Congratulations on your new venture! As you are probably aware, when you form a new limited company you will need to deal with the Companies Registration Office as well as the Revenue Commissioners. Firstly, you will need to make sure you file an annual return, which is called the B1 form. It needs to go into the CRO every year along with a set of accounts (except for in the first year of trading). It is important to file this on time as penalties and fines can be incurred if this is late. Your first B1 return will be due 6 months after incorporation and then subsequent returns will need to be made at least once every calendar year thereafter.
You have 28 days from your Annual Return date or ARD to submit the B1 to the CRO. You can do this online or by paper. To file the return online go to www.core.ie and register a new account. To check what your annual return date is at the moment, simply search the CRO’s website.
Remember that you also need to notify the CRO if you change any particulars of a registered business, for example change of business name or address, change of directors etc.
If the above all sounds a bit daunting, then seek the professional advice of your local TaxAssist Accountant. They can prepare all of the returns and accounts (for the company and any officers), and will liaise with the CRO on your behalf.
Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.