Moloney & Associates Solicitors Limerick

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Missed your Deadline for filing your Annual Return with the  C.R.O.?  Read on . . . 

If you/your client have missed your annual return date you are now looking at both late filing fees and the loss of audit exemption.   For a small or medium enterprise the cost of going in to audit can be very substantial.  Your company may also face strike off if it fails to file their Annual Returns beyond a certain point.

Read more: Missed Annual Return Deadlines with the C.R.O.

Property Market Update

There are plenty of new homes for sale across Limerick city which is good news for anyone looking to buy a house.

It’s great to see lots of building activity around Limerick City after a very quiet decade with virtually nothing new being built.

Read more: New Houses for sale in Limerick City

Missed Deadlines with the C.R.O.

New procedures allow for application to extend time to file CRO returns through the District Court.

Failure to file an annual return on time with the CRO can have serious consequences for a company such as the imposition of the late filing penalty, prosecution of the company and/or its’ directors, the loss of the audit exemption for two years or the possible involuntary strike-off and dissolution of the company. The most frequently penalty, at least initially, is the loss of audit exemption which can be a costly and time consuming penalty.

Previously an application to the High Court was required. Now however, under section 343 of the Companies Act 2014, applications for an extension of time to file an annual return may be made to either the High Court or to the District Court.
This came in to effect on from June 1st 2015. By allowing the applications to be made to the District Court there is a huge cost saving to the company of using a Solicitor and applying to the District Court. Moloney & Associates will act as Solicitor to the company. If the Order is granted the company will not face two years of audit fees and the late filing penalties.
The Court may, if it is satisfied that it would be just to do so, make an Order extending the time in which the annual return of the company, in relation to a particular year, may be delivered to the Registrar of Companies.

Where the Court makes an Order extending the time to file, the company, or more usually its’ solicitor, must deliver a certified copy of Order to the CRO within the time period specified in the Order, usually within 28 days of the Order being made. Once the CRO have processed the Order it is open for the company to have its’ Annual Returns filed.
This must be done within the time period specified by the Court Order, usually 28 days.
That annual return will be deemed by the CRO to have been received on time and the consequences of late filing (late filing penalties / loss of audit exemption etc) will not apply to that annual return.
Moloney & Associates, Solicitors, are based in Limerick City and are experienced in the new procedures.
We will;
1) Draft the Affidavit. Your accountant will need to provide us with the missing returns.
2) Draft the Notice of Application.
3) File a certified copy of the Application with the CRO in advance of the application date as is required. Obtain the required letter from the CRO confirming that they have been put on notice.
4) Appear in court and make the application.
5) Take up the Order of the Court, if granted.
6) Serve a Certified Copy of the Court Order on the CRO
We will do so for a fixed Solicitors Professional fee.
We can be contacted as follows;
email:- This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone 061 316758.

Were you mis-sold Payment Protection Insurance?  If so, when you submitted your claim were you denied on the basis that you were outside of the 6 year time limit?  

Well good news has emerged. The law is being amended. If you feel you were mis-sold payment protection insurance and your claim was rejected solely on the basis of being out of time you can now re-submit.

The Finanacial Services Ombudsman will review the claim again.

If you wish to arrange a consultation with a solicitor in respect of your mis-sold payment protection insurance give me a quick call to arrange a consultation.  I'm based in Limerick city centre. 

Steps in a Conveyancing Transaction/The role of the Solicitor

STEPS IN A CONVEYANCING TRANSACTION

The term “conveyancing” is the term used to describe the process by which the ownership of property is transferred from one person to another in Ireland.

The following are the steps involved in nearly all conveyancing transactions;

  1. The purchaser agrees a price with the vendor for the property through an Auctioneer and pays a booking deposit to the Auctioneer.  This booking deposit is fully refundable up until formal contracts are signed, exchanged and the balance of the deposit is paid.

    Read more: Steps in a Conveyancing Transaction/The role of the Solicitor