Limited companies are obliged to file an annual return each year to the Companies Registration Office. The annual return consists of Form B1 and financial statements. Smaller companies can avail of exemptions from filing full financial statements and can instead file abridged financial statements. Many small companies can also avail of audit exemption.

Each company has an annual return date. Form B1 must be filed within 28 days of this date. The financial statements need to be filed within 28 days of the B1.

Penalties for late filing of the returns are applied automatically. Fines of €100 plus €3 per day the return is late (up to max €1,200) can be imposed as well as loss of audit exemption. Losing audit exemption means that a small company would need to hire an auditor to audit the financial statements for the following two years. This could prove very costly.

We monitor annual return dates for our clients to ensure that deadlines are met and penalties are not imposed. We have the latest software to allow us to prepare Form B1s and financial statements quickly and efficiently. We agree a fee with our clients from the outset so there are no surprises when the invoice is issued.

If you are interested in our annual return services, call us today on 021 240 9120 or email Orla Linehan at orla@fidelia.ie.