Good morning all
I was recently alarmed by the number of companies failing to lodge Form R1 on time, and they found themselves in the unfortunate situation of paying alot of penalties.
Penalties are like unnecessary fat, and we must try to avoid as much as possible.
I hope this page (if anyone reading) able to help their company’s compliance with Form R1 in order and avoid the trap of accumulating ‘unnecessary fat’ (ie penalties).
So, here it is (only briefly):
(1) What is Form R1 ?
Companies must fill a form called Form R1, pay a prescribed fee which varies according to the type of company and lodge this form to Registrar of Companies.
To know when this is due, we look at the commencement date in the Company Registration Certificate, and then count 28 days from there. The date on which this (28) count stops, this will be the final due date.
Example: If a company was formed on 09th May 2017, then we must start our count from 09th May and the 28th day falls on 05th of June. So every year, we must comply with Form R1 any day in between 09th May – 05th June.
Find below an extract from Companies Act 2015, to support the above.
(2) Where is Form R1 ?
Here it is.
However, since most of the services are now online, you “might” probably have to skip this part, and move to part (3) below. Just incase, if it hasn’t, then you can download the form from here (just as an image file).
(3) How-to comply Form R1 ?
Step 1: Click this link: https: R1 Form Lodgement
Step 2: Scroll down, until you see the following:
Step 3: Click on “Apply” and from there onwards, everything is self-explanatory.
Hope the guides you nicely.
Remember, the above is only general information, and should not be taken as a full professional advice.
If you require anything further, please contact us.