Help with CRO

Coala

Hi

I filed my CRO return and I received it back. The reason for that see below:

"The accounts attached predate the made up to date by more than 9 months. To retain this financial year-end you must make your annual return up to 30/09/2009 at the latest. The late filing penality will be EUR268 in addition to the fee of EUR40 – Total fee EUR308. Alternatively, you can change your financial year to cover a later period. Or you may file this annual return with no accounts attached but attaching a form B73 to change your ARD to later date."


I attached accounts prepared for a period of 24/06/08-31/12/08 (first business year). ARD is 24/12/2009. I was in oppinion that my year end is 31 Dec and I want to keep it. Please advise what should I do now as I do not want to be late with my filing. Any help appriciated.

Coala

Maybe I did write something wrong in form B1?
I wrote:

Return made up to 24/12/09
Financial year 24/06/08-31/12/08

Actually I a confused about ARD- is it supposed to be companies year end? I thought companies automatically have year end 31/12

noeleenred

Hi,

Your ARD date should not be more than 9 months after your year end. E.g. Your year end is the 31/12/2008, then the maximum your ARD can be is 30/09/2009. But you say your ARD is more than 9 months (24/12/2009). This doesn't appear to be correct. You can check this on the CRO website, http://www.cro.ie/search/, type in your company name and it will show you the last accounts they have received the your next ARD.

If your ARD is 30/09/2009 or before this, you will incur late filing fees.

Also, companies choose their year end, it is not automatically December.

Noeleenred

Coala

Then my year end is 24/06/09? Because I did not change year end to 31/12. What would be the best I can do in this situation? Can I change ARD to later date?

Coala

Really confused. I understand that I can change ARD to later date (any date up to the 6 months) and I have to make annual return for the period from 24/06/08-23/06/09?
And what about option to change financial year? How can I change it? Can I change it to 31/12/2009? But then there will be 17 months in my set of accounts .Please help

noeleenred

I'm not being funny but how do you not know your year end? If you dont know this, I'm not sure how we can help!

A Form B73 will allow you to extend your ARD.

I advise you to phone CRO and they will go through the letter and problem with you, they would have provided you with a contact name and number at the end of the letter.

Coala

I tought year end is automatically 31/12 for all comanies,but now just a while ago I got information that it is 12 months after incorporation. Sorry for these silly questions but it is my first return.

Cookie89

Coala wrote: »

Hi

I filed my CRO return and I received it back. The reason for that see below:

"The accounts attached predate the made up to date by more than 9 months. To retain this financial year-end you must make your annual return up to 30/09/2009 at the latest. The late filing penality will be EUR268 in addition to the fee of EUR40 – Total fee EUR308. Alternatively, you can change your financial year to cover a later period. Or you may file this annual return with no accounts attached but attaching a form B73 to change your ARD to later date."


I attached accounts prepared for a period of 24/06/08-31/12/08 (first business year). ARD is 24/12/2009. I was in oppinion that my year end is 31 Dec and I want to keep it. Please advise what should I do now as I do not want to be late with my filing. Any help appriciated.

Hi,

As your company was first incorporated after 01/03/02, its first ARD is 6 months after date of incorporation, this Annual Return can be submitted without accounts.

In order to change your ARD you may do so by notifying the Registrar with your new ARD but this cannot be any later than 6 months after your allocated ARD.

I'm open for contradiction but to my knowledge that is correct.

dbran

Hi

OP, you are very vague in your information but I believe that this is your situation.

1) The company was incorporated on 24 June 2008.
2) You have made your accounts first year up to 31 December 2008.
3) You have already filed the company's fist annual return (without accounts) on 24 December 2008
4) We are now talking about the ARD for 24 December 2009 and you have filed the accounts for the period to 31 December 2008 with this return.

If this is correct then you have now two choices.

1) If you want to keep the year end at 31 December 2008 then you must file your B1 with a date made up to 30 September 2009 at the latest. As has been pointed out by previous posters, the ARD can be no later then 9 month from the date of the accounts which are being filed. It dose not matter what the current ARD is. This 9 month rule takes precedence. There will be late filing fees (€100 plus €3 for every day the accounts are late) of about €460.

As your accounts will be late they will need to be audited. Next year will also need to be audited. The filing of the return in September will automaticaly change the ARD to 30 September 2009 for every year afterwards.

2) If you want to keep the same ARD you will have to increase the length of the accounting period to satisfy the 9 month rule ie increase to 24 March 2009 at least. Your accounts may now have just gone late (depending if you have been given time to fix the situation by the CRO). Late filing fees of about €200 have arisen to date. You cannot change/extend the ARD using a B73 as the accounts are now late. Again, for both this year and next year will have to have your accounts audited.

Hope this helps

dbran

Coala

Hi everybody, just want to update what I have done. I called CRO and extended ARD to 24/03/10 with B73. And I am going to file accounts with correct year end 23/06/09, so I will have exactly nine months between accounts and ARD. Thank you guys for your help, i really appriciate it.

noeleenred

Nice one Coala

MartMax

Hi Coala,

Just a bit concern. While it's not wrong to have any date as your year end, it'd be less hassle or rather simplify things to have the last day of a month as year end. It makes a lot easier to do your bank reconciliations, tax returns, etc.

Don't forget your corporation tax returns too. :P

Coala

oh defenetely I would reconcile to the last day of the month,thank you.