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Management co.account return.

  • 28-04-2014 6:05pm
    #1
    moonshadow
    Registered Users, Registered Users 2 Posts: 1,217 ✭✭✭


    Hi all, a quick (for me) question,
    a management company that was solely setup to provide legalities for the sale of houses but does not and has never charged management fees to the owners ,
    What would be a fair cost for annual returns and accountancy fees ?
    Thx.


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    First thing to establish is it a company limited by guarantee or a company limited by shares.

    Then are the annual returns up to date.

    One has accountancy fees the other audit fees.

    Accountancy fees €300-€500, audit fees €300-€1000 plus VAT.


  • #3
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    Careful here. A company that is not trading for the acquisition of gain by the members is outside the scope of the 1986 Companies Act and therefore cannot avail of audit exemption.

    Whether or not it is limited by shares or limited by guarantee is not relevant.

    Given the consequences for both client and accountant for filing incorrect accounts with the CRO you need to be sure of what the company is actually doing before you decide to remove your auditor. Most management companies require audited accounts because they are usually engaging in mutual trading with themselves.

    dbran


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