One of the most frequent questions regarding annual returns is do I need to do an annual return? I had no trade in the first 6 months. The answer here, whether you had activity in the company or not is YES. The first annual return is filed 6 months after incorporation, even if the company has not traded or not. It is a set of prescribed information that must be submitted to the companies registrations office on time. The first annual return for the company is included in our Non-Resident, UK- Resident and Premium Packs.
About the return
The return is a statement of information about the company which contains information to the officers of the company, Shareholders and any changes that have been made as well as some other statements. The first is 6 months after incorporation (no accounts) and the next is 12 months after the first and every 12 months after that. Subsequent annual returns after the first require statutory accounts.
Late returns have several consequences. These include Late fees of €100 and €3 per day for every day they are late, loss of audit exemption, and prosecution of the officers of the company. There are no exemptions for late returns.
Registrar of companies is mindful of the extreme difficulties Companies are currently facing due to the outbreak of COVID-19. For this reason, the Registrar of Companies decided to extend the filing deadline for Companies with an Annual Return Date (ARD) falling on 30th September 2020 or later. Any Company with an Annual Return Date of 30th September 2020 or later will be deemed to have filed on time if all elements of the annual return are completed and filed by 26th February 2021. This will enable businesses and their financial advisers to focus on the more pressing and immediate financial challenges facing them.