Missed ARD

BigFish75

Long story short is my Ltd Co annual accounts are done to Dec 31st and ensuring the annual return was sent into the Rev Com was overlooked. My Accountant (who thought I was sending in the return) says the accounts now have to be Audited and then submitted. Is this correct?

I really don't want to have to pay late fee's + audit fee's for this admin error. What happens if I just submit the unaudited accounts now? Will the Rev Comm accept them?

Do I have any options other than paying out these additional costs?

Fish

Legend100

Hi Big Fish

I think your accountant means the accounts are late with the CRO and not the Rev Comm. That is why they have to be audited. The companies office will send back the accounts if there is no auditors report submitted with the abridged accounts.

Unfortunatley there is no way around this as the accounts are late. You'll have to be audited and if im not mistaken, will have to be audited again next year. (open to correction on the second year rule by someone who is better at company sec than me:))

As regards to the Revenue, Id say your CT1 is probably late which you mght file yourself but I wouldn't expect you to file your ARD yourself if you have an accountant. Well depends on the level of work involved in the accounts and how much you prepare yourself I suppose.

Wreck

BigFish75 wrote: »

Long story short is my Ltd Co annual accounts are done to Dec 31st and ensuring the annual return was sent into the Rev Com was overlooked. My Accountant (who thought I was sending in the return) says the accounts now have to be Audited and then submitted. Is this correct?

I really don't want to have to pay late fee's + audit fee's for this admin error. What happens if I just submit the unaudited accounts now? Will the Rev Comm accept them?

Do I have any options other than paying out these additional costs?

Fish

First of all check back and see who should have been responsible for filing the annual return - we always file it on behalf of all our clients and I think this would be the case in most practices. If you can find some documentation (letter of engagement etc) that shows the accountant should have filed it then I would try to get them to do the extra work free of charge, this year at least.

The annual return is sent to the companies registration office (CRO) rather than the Revenue Commissioners. If it is filed late it must be accompanied by audited accounts. If you try to file it with unaudited accounts they will simply reject it and continue to apply the late filing fee. You will also have to file audited accounts next year, as in order to file unaudited accounts you must have submitted the annual return on time the previous year also.

There are no ways around this really, and outside of trying to get your accountant to do it for free (if they were at fault) you are stuck with the extra cost this year and next year.

It's worth noting for the future that if your accounts year-end date is 31st December, you can extend your annual return date out to the end of September the following year by filing a form B73 with the B1. This will give you a little bit more time to get your accounts done and file the return on time. Unfortunately you can't do this year now as you are already late.

Wreck

Also you can find more info on the CRO website, http://www.cro.ie/

dbran

Hi Bigfish

Sorry to hear of your problems.

If the accounts are late filing in the CRO then they must be audited as a matter of law. If you file unaudited ones instead, they will most definitely be rejected by CRO and sent back. You should note that the fine increases by €3 for every day the return is late so you need to act now as delaying will only make things worse.

The CRO are very strict on late filing fees. They have been known to allow a once off waiver on a case by case basis. The reason for a waiver would usually be on medical grounds only (you would also have to produce a doctors cert).

Also saying the accountant forgot to file would not be sufficient reason for a waiver of the fines as you are responsible as a director of the company for ensuring this return is filed on time.

Hope this helps. Sorry its not better news

Dbran

Sand Wedge

What date was your actual ARD. You have 28 days from ARD date to file B1 with annual accounts!

BigFish75

Thanks all, that clarifies it for me. What a bloody waste of money :mad::mad::mad:

JoeTurner

Some more specific detail on circumstances when CRO may waive penalties:

http://www.cro.ie/ena/annual-return-penalty-waiver.aspx

Ontheball2

The guys are right in all they are saying in relation to the CRO. With the Revenue return ( CT1) you will have up to 9 monhts. Filing your accounts with the CRO you also have a 9 month, but you have to inform the before had via the B73. Whatever the ARD was you will have 28 days after that date, and more if the B1 is Files online. If you are over this time limit you will have get them audited. If your current accountant is'nt a registed auditor, then you will have to else where to get it sorted. If you want I can recomment someone to do a full audit and filing with the CRO. I think it will cost you about 800 euro.