If your client has an Annual Return Date in the next few months, they will be making their financial figures available to the public. How many clients have said to you over the years “is there any way we can avoid filing our accounts”? Now you have the solution to their problem.
As we discussed last year in this article http://www.accountingnet.ie/law_regulation/Non_Filing_Accounts_Structure.php , if a company converts to an Unlimited Company, it does not have to file accounts at the CRO, just a special Auditors Report. By restructuring the shareholding within the company, using an offshore structure, the existing shareholders may retain their limited liability whilst availing of the exemption from filing financial statements.
5 reasons to consider
- Newspapers, magazines and Business shows do not have the ability to publish or discuss your client’s financial information
- Your client’s accounts may being showing large losses or large profits that they wish to keep private
- Are your client’s in negotiations with landlords or suppliers that rely on the information in their accounts?
- Using the offshore structure as part of the re-organisation, the original shareholders may retain limited liability
- The financial statements prepared by your Practice are not available for inspection by the public or ODCE
If your client hasn’t considered this before don’t wait until somebody else tells them, be proactive and discuss the option with them while providing a value added service..
Act today as the structure must be in place before the Annual Return Date.
If you are interested in putting a Non-filing Structure in place or have any queries, please contact:-
Conor Sweeney - csweeney@omnipro.ie
or
Amy Brennan - abrennan@omnipro.ie
Conor Sweeney,
OmniPro,
Unit 3, South Court,
Wexford Road Business Park,
Carlow.
059 9183888
csweeney@omnipro.ie
www.omnipro.ie
Conor is speaking at a number of upcoming CPD Courses in August
