Filing Accounts to CRO

[vuyrq8yn]

I am a director of a limited company and 50% shareholder/owner. The company has effectively ceased trading on the completion of the last contract over a year and half ago. I have wanted to get the company closed out but the other 50% shareholder / owner is reluctant to do anything. The company has no creditors other than anything owed to Revenue. The company has cash assets that will more than cover any expected tax liability.

My responsibility as a Director is to ensure we are Revenue/CRO compliant so my main concern is that the company accounts are overdue for submission to CRO for over 9 month now. I am told by the accountant that we may become subject to a Revenue Audit.

I have tried over the last year to get the accountant to complete and submit company accounts to CRO. I have supplied all the paperwork for payments and invoices with the exception of company expenses incurred by the other Director. However the other 50% shareholder/owner would not finalise their company expenses to the accountant despite asking them to do so on several occasions. The accountant is unwilling to finalise and submit the accounts until he has everything from the other Director.

My relationship with the other Director has disimproved as a result and they seem to be holding back on their documentation for the accountant indefinitely. Any suggestions welcome as to steps to break the impasse.

For example could I ask the accountant to submit accounts to CRO based on the documentation the accountant currently has?

Would the accountant be obliged to complete the accounts on my instructions given the accounts are now 9 months overdue?

 

[Branz]

Missing the CRO deadline means that you must now provide audited accounts ( if you were exempt up to now), for the most recent year and for the next one.
There are also daily fines, they max out at euro 1,200, per late filing, so if you miss another year it will get to 2,400
As you now need audited accounts, the accountant wont be able to form an opinion on the accounts so the best he might do is give a heavily qualified audit report which will attract the attention of both Revenue and the ODCE which is a complete new level of hurt as the qualification would be based, in part, on incomplete records which is a breach of company law.
Have you sought legal advice about how you might use the courts to either personally exit the company or make the outer guy play ball.
Have you documented the paper trail asking for the stuff to be done?
Your liquidation options are set out here
https://www.cro.ie/Termination-Restoration/Overview
However as any court stuff here is High Court, it is expensive

 

[Joe_90]

You need to be clear. Being late with the CRO has nothing to do with a Revenue Audit.

The deadline for filing the Tax Return is the 23 day of the 9th month after the year end.

The deadline for filing the CRO return is at its latest 28 days after the end of the 9th month after the year end.

What is the year end and what is the ARD?

If the other director refuses to finalise their expenses I'm not sure what you want the accountant to do, the accountant can't file the accounts with Revenue or the CRO if they have not been approved by the directors.

If the year end is December then the Tax return is late but the CRO return is not if the ARD is 30 September. Ring the accountant and find out the ARD or CRO.ie/search I can't imagine any sensible accountant leaving a company go into audit for the reason you outlined above.