Tax Question - CRO

B

BusyBee79

Guest
Hi,

Im in a bit of a mess here with my taxes thus need some advice

Details

Company formation Date = April 07
1st ARD = October 07 - Filed On Time - No Accounts Needed

2nd ARD = October 08 - Accounts Late to present day thus a fine

The company only earned from April 07 to August 07 where I subsequently returned to the UK and worked within my UK Company.

I have not completed any taxes for the Irish Co as yet

1) I didnt have to annex any accounts on the first ARD however when filing the 2nd ARD do I need to show the April 07 - August 07 activity via Balance Sheets and P&L or will it just be a blank set of accounts i.e because after October 08 the company didnt earn any money

2) I have delcared the company profits as foreign earnings on my UK Self Assesment but have yet to pay corporation Tax, if I decided not to pay the CRO Fine (thus facing possible involuntry strike off) does this have any bearing on me being able to pay my corporation tax to the Irish Goverment (I know I have messed up but a fine of nearly €800 or more is ludicruous). I dont mind paying the late fine to the Irish Tax Man albeit. Can you do one without doing the other or is it a parallel process?

Thanks

B
 
BusyBee79 said:
Hi,

Im in a bit of a mess here with my taxes thus need some advice

Details

Company formation Date = April 07
1st ARD = October 07 - Filed On Time - No Accounts Needed

2nd ARD = October 08 - Accounts Late to present day thus a fine

The company only earned from April 07 to August 07 where I subsequently returned to the UK and worked within my UK Company.

I have not completed any taxes for the Irish Co as yet

1) I didnt have to annex any accounts on the first ARD however when filing the 2nd ARD do I need to show the April 07 - August 07 activity via Balance Sheets and P&L or will it just be a blank set of accounts i.e because after October 08 the company didnt earn any money

2) I have delcared the company profits as foreign earnings on my UK Self Assesment but have yet to pay corporation Tax, if I decided not to pay the CRO Fine (thus facing possible involuntry strike off) does this have any bearing on me being able to pay my corporation tax to the Irish Goverment (I know I have messed up but a fine of nearly €800 or more is ludicruous). I dont mind paying the late fine to the Irish Tax Man albeit. Can you do one without doing the other or is it a parallel process?

Thanks

B
Click to expand...

In a sense the tax man and company office operate separately.

Points to watch

1. Can not do accounts youseslf now due to being late, need an auditor.
2. You incorporation date could determine you accounts year end eg if accounts year end is 31/12/07 you ard cant be beyond 30/09/08(9 month rule).
3. More a clean up exercise- have to have auditor for next 2 sets of accounts and them go audit exempt if up to date.
4. if struck off- can file all os accounts fees etc within a year before you have to go to court

my advise- hand over to accountant and auditor
 
Last edited:
Thanks Grahame, is there any way I can get out of this? Im not paying an auditor and an accountant, no chance. If they strike me off and I live in UK are they really going to pursue?
 
If you miss the CRO deadlines, you have to have your accounts audited. You don't need a separate accountant.

You are better off facing up to the problem now and solving it and so you won't have it hanging over your forever.

Brendan
 
BusyBee79 said:
Thanks Grahame, is there any way I can get out of this? Im not paying an auditor and an accountant, no chance. If they strike me off and I live in UK are they really going to pursue?
Click to expand...

Even if the company is struck off the CRO / ODCE may decide to follow & fine / restrict / disqualify a person from acting as a director of a company.

As Brendan has said, it's beter to get it sorted, but of course the final decision on that rests with the company directors whose responsibility it is.
 
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