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Hi a company was registered in July 2015 and it financial yr runs from Jan to Dec...do we need to have an statutory audit so that we can file Tax returns by 30th June 2016. or there r special consuderation for new companies?

Some background...

The Company's Act - s.148 allows for accounts to be prepared within a max 18 months after the registration of the company.

Financial Year :

You can have audited accounts for 6 months to Dec 2015 & there after 12 months period. There is no requirement to file a return if company is limited and you have chosen the accounting period to be 18 months as your case is.

Relax then and wait until 30th June 2017 to file your first return.

I have just filed a tax return for the newly formed Crb company incorporated in June 2014 did 18 months to Dec 2015 on itax and it works

For tax purpose does it apply...18 months apply for audit purpose