Since the enactment of the Companies Act 2014, the District Court now has a role to play where companies and their directors fail to file annual returns on time.
Failing to file annual returns are a serious matter in that the Company and the Directors are committing a criminal offence but also , the company will end up losing it’s audit exemption . This can have big legal and financial consequences for small business in particular.
What to do when when you have missed the returns deadline? It is now possible to bring a Court application before the District Court to seek to have the time extended in which to file your annual returns.
It is also possible to bring this application for previous years returns if one finds oneself needing to restore a company that has been struck off.
A struck off company vests in the Minister of Finance.
Peter Connolly Solicitor has successfully brought an application before the District Court for a company that had missed 5 return dates.
These applications would previously have had to be taken in the High Court with attendant costs implications, obviously the District Court is far more cost effective.
For any queries on this bog please contact Peter Connolly Solicitor directly on peter.connolly@peterconolly.ie