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Navigating The Audit Exemption Of A Small Irish Company

We have a 100% RTD and ARD, which means YOU the business owner do not get hit with penalties by the CRO. to find out more : https://peakaccountingsolutions.ie/2020/06/04/navigating-the-audit-exemption-of-a-small-irish-company/

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Navigating The Audit Exemption Of A Small Irish Company

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  1. Navigating The Audit Exemption Of A Small Irish Company

  2. CRO B1 ARD Every year come hell or high water an Irish Limited company needs to file the annual return Form B1 with CRO. As the company director, you are responsible for your company’s annual return and Peak is here to help our clients with the preparation and filing the company’s Annual Return.

  3. Missing this deadline has serious implications that with a bit of planning can be easily avoided. The ARD deadline can be extended If your company wishes to extend its current ARD, it may do so by delivering an annual return to the CRO not later than 28 days after its current ARD, to which no financial statements need to be annexed, and nominating on Form B73 the new ARD, which date maybe not later than six months after its first ARD.

  4. Why you should not miss the deadline Loss of audit exemption Late filing penalty Potential prosecution and company strike-off Returns that are filed late with the CRO incur a substantial Late Filing Fee.

  5. 1. A company will also lose eligibility for Audit Exemption for the following two years if the annual return is filed late. We estimate the cost of this will be €3,000 minimum. 2.Late filing fee. This is not as bad as above at €100 with a daily penalty of €3 per day every day thereafter, up to a maximum penalty of €1,200 per return. https://www.cro.ie/Annual-Return/Filing You can be sure to avoid this by contacting us at contact@peakaccountingsolutions.ie

  6. For more update , visit us https://peakaccountingsolutions.ie

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