tax return dormant company formed this year

vole

I just opened a company in the summer of 2015 which I have not used yet. Obviously I still need to file a return and the agent just sent me a mail asking for a couple 100 to file it. Is this something that I could do myself easily or not worth the hassle?

I looked on the revenue site and there are no forms for 2015 yet. Also the letter from the revenue says I need to file before 29/12/2015 which I find strange as most jurisdictions make you file mid year for the previous year. How could I file for 2015 even though it has not finished yet?

bannerman2005

You haven't specified what type of tax return the Revenue are asking for? Would it by any chance be the 1st ARD of the company which is due to be filed with the CRO 6 months after incorporation?

barneystinson

What he said ^^^

And just to further clarify, when you are running a Ltd company in Ireland, you have 2 distinct set of filing obligations, to Revenue for taxes, and to the Companies Registration Office for company law purposes.

But to answer your question, assuming what you're due to file is the initial 6-month B1 for the company, a couple of hundred might be a bit steep, particularly if the accountant was involved in the setup and already has all the details.

vole

Hi guys, Here is the text

Dear Sir / Madam,
This letter is being sent to remind you of your company's obligation under law to file its annual return, made up to a date no later than its NARD (next annual return date).

The annual return must be filed within 28 days of the company's NARD, failing which, late filing penalties will be imposed. The penalty begins at €100 on the 29th day after the company's NARD and increases by €3 for every day that the return remains un-filed with this Office, up to a maximum of €1,200 per outstanding return. Relevant details are set out in CRO Information Leaflet No. 23. That leaflet can be downloaded from the CRO website

Another consequence of the late filing of a company's annual return is that any entitlement of the company to exemption from submitting audited financial statements with the annual return, will be lost as a matter of law. That loss could entail considerable expense for affected companies. Relevant details are set out in section 3.5 of CRO Information Leaflet No.23, "Annual Return and Financial Statement Requirements Including Audit Exemption". That leaflet can be downloaded from the CRO website, www cro ie


Your company's NARD is 29/12/2015. Please keep careful note of your company's NARD and ensure that its annual return and associated financial statements, if applicable, are filed in time and in accordance with the relevant statutory provisions.
Yours sincerely

bannerman2005

Its the CRO 1st annual return that is due. To avoid losing audit exemption that is one return to get in on time.

vole

OK thanks, so is it easy peasy and something i could do myself or should I get the accountants to do it?

CIARAN_BOYLE

vole wrote: »

OK thanks, so is it easy peasy and something i could do myself or should I get the accountants to do it?

Do you plan in using an accountant in the future? If so get them to do it. Not worth pissing them off for the sake €200.