Company directors don’t appear to be aware of the two great benefits that follow from a successful application to the local District Court to extend the date for the filing of an annual return that’s late!

Perhaps the number one advantage is that the company gets to keep its very valuable audit exemption and now that audit exemption looks like it’s heading towards €12 million in respect of accounting periods commencing on or after 1st January 2016, hopefully, after the legislation is enacted and commenced into law!

Irish companies have paid millions over the years in late filing fees and a successful application means that the late filing penalty of up to €3, 600 is waived.

The application can be made in any local District Court where the registered office is situated and the application can still be made in the High Court.