Audit after missing tax deadline

rupert7

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My father has a company and left it a bit late to send in returns to his accountant.

As they were so busy towards the end of October they didn't get the returns in on time.

They said that as the deadline was missed that he automatically has to do an audit for the CRO which will cost £1500.

Is this an automatic reprecussion and what is involved in such an audit?
£1500 seems like a lot???
 
The heading of the thread is "Audit after missed tax deadline" demonstrates that you don't understand that the audit has nothing to do with tax.

€1,500 is the amount for the audit of the accounts for filing with the Companies office. It will be the same in the second year.

The auditor has to prepare a file which is ridiculously complicated for a small company and is subject to review in a monitoring visit most firms would not bother doing it at all.
 
Rupert

€1,500 is not excessive for a Statutory Audit, even for a small company.

Any decent Accountant will not allow a client to miss a filing deadline, even if it is during the busy period.
 
Any decent Accountant will not allow a client to miss a filing deadline, even if it is during the busy period.

If the customer has not supplied their records, there is little the accountant can do. They can't make up a set of accounts with imaginary figures.
 
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