OK, another quick ARD question
Is it possible to extend a company's ARD into a new calendar year using a B73 (eg from November 2011 into say February 2012)
Does the filing of the B1 with the B73 satisfy the ARD filing requirements for the 2011 calendar year?
As far as I can see it IS possible but I'm too scared to try it without getting confirmation first. I have nightmares about going to file the return next February and getting a message saying that it is 3 months late and the company has to be audited now!
PS - I know that it WAS possible to file a set of 2011 accounts with the Nov-2011 return and then file another B1 in Feb-2012 with the same set of accounts but this loophole is being closed by the CRO with effect from 01-Jan-2012
I certainly think the penalty structure needs reform anyway. The loss of audit exemption for what could be just a simple error is ridiculous. Maybe if a return is over 12 months late then something like that could kick in but for one or two days late it's just crazy.
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