iXBRL deadlines 2017

The Revenue Commissioners have maintained the deadline of filing iXBRL tagged accounts within three months of the deadline for filing the corporation tax return for those companies that are required to do so in 2017.

If any refunds are due, these will be withheld by the Revenue Commissioners until after the iXBRL tagged accounts have been filed.

Late filing of iXBRL tagged accounts with the Revenue Commissioners may lead to;

  1. A surcharge on top of your tax charge
  2. Restriction of group loss relief which may be available

What questions do you have?

We are happy to help. Please post your comment below or call Nigel Mayberry, Director of Audit Services at Cooney Carey, on 01 677 9000. Alternatively, send him an email: nmayberry@cooneycarey.ie

To keep in touch, connect with our friendly team on LinkedIn.

If you found this article interesting, please share it with other businesses. 

Posted on September 21, 2017 by Nigel Mayberry

Congratulations to Michael Byrne on striking gold at the WOMAA World Championships

Huge congratulations to our colleague Michael Byrne, a black belt in Bushi Kenpo Jujitsu holder, who has recently won the gold medal at the WOMAA World Championships.

We’re proud of your success, Michael. Keep it up!

Posted on August 7, 2017 by Cooney Carey

The Impact On UK Financial Statements Of New Legislation On Medium Sized Companies And Group Accounts

With effect on financial statements commencing the 1st January 2016 onwards, statutory instrument 2015/980 is changing the format of UK accounts. Let’s look at the main changes for medium companies and group accounts:

The new size limits for medium companies are as follows:

  • Turnover less than £36m
  • Gross balance sheet total less than £18m
  • Less than 250 employees

Changes for medium sized companies:

  1. Disclosures with regard to subsidiaries and other significant investments are expanded to include the address of the registered office of all such entities, whether inside or outside the UK.
  2. The maximum useful life of goodwill and intangible assets is set at ten years.

The new size limits for groups requirement consolidation are as follows:

  • Turnover less than £43.1m
  • Gross balance sheet total less than £21.6m
  • Less than 250 employees

Order of the notes

The 2015 Regulations bring in requirements about the order notes must be presented in the accounts. Notes must now be presented in the corresponding order of presentation in the profit and loss accounts and balance sheet.

What questions do you have?

We are happy to help. Please post your comment below or call Nigel Mayberry, Director of Audit Services at Cooney Carey, on 01 677 9000.

To keep in touch, connect with our friendly team on LinkedIn.

If this article helped you, please share it with other leaders.

Posted on July 3, 2017 by Cooney Carey

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