Amending and changing of a company's account reference date: there may be occasions when you need to change the end date of your company's financial year, known as its accounting reference date. Companies House will allow you to lengthen your company's financial year to a maximum of 18 months, but it is important to remember that this is likely to affect your deadline for account filing. If you need to change your company's account reference date but aren't sure how to go about it, it's worth speaking to a professional. At Coddan Ltd, being the company formation agent, Coddan offers the full range of corporate services and our effective electronic methods ensure that your Companies House transactions are smooth and efficient.
|Changing a Private Company Accounting Reference Date|
We are able to engage with Companies House to process a change in the private limited company's financial year to bring it into line with the HMRC financial year. If you have a private company, and require to change it accounting reference date, we are able to help to change limited company accounting date with the Companies House and HMRC. All you need to do is to complete our application form and we will help you to change the reference date for behalf of your company.
Amending and changing a company financial account reference date: your company's financial account reference date is usually 12 months from its date of registration. This 12 month period is the standard accounting year, and it matters to your company because you need to file the appropriate returns by the correct deadline.
However, there may be instances where the company reference date needs to be changed to better suit your business. Perhaps the accounting period is up just as your busiest season hits, or maybe you prefer to get the accounting out of the way every few months. Whether you want to extend the financial year or make it shorter, it is possible to amend and change your company financial account reference date through Companies House.Making the request involves filing a form, which is directed to Companies House. In order to ensure that this is completed correctly and to confirm that a date change is right for your business, you should seek the advice of an expert. The financial and legal specialists here at Coddan can advise you - give us a call to discuss your amend request.
Companies and limited companies who trade in the UK are liable for certain taxes and as a result, they need to be properly registered with the relevant agencies. Timely accounting returns must be filed at set periods, and any due payments must be made.
However, you may not realise that you can change the reference dates with HMRC and Companies House, making your accounting period longer or shorter as required. Making changes to the financial year has its benefits, but needs to be carefully considered as it could have repercussions down the line. Always seek advice from specialists before undertaking a request to lengthen the accounting year.
The legal and financial specialists here at Coddan can advise you on choosing your company account reference date. Government rules allow for the accounting year's end to fall later or earlier than the standard 12 month period. This change to the date can be made once every five years and will remain in place for all subsequent years. This could give your company up to 18 months in each financial year, and can prove extremely beneficial for some businesses.
When a limited company is formed, the legal requirement for filing its annual accounts and tax returns is set from the date of establishment. However, this can cause difficulties for the company, including those that are entering into administration, and it may be necessary to change the accounting dates.
It can be especially problematic in situations where a parent company has a number of subsidiaries, which were formed on different dates. In order to minimise workload and expense, it's beneficial to have an accounting date that's the same for all, so that individual or group accounts and returns can be filed at the same time.
Coddan can work with Companies House to shorten or lengthen the reporting period in order to bring the various accounting dates in line with each other. This has the additional advantage of drastically reducing accountants’ fees in the preparation and filing of different sets of accounts throughout the year.
A company's year-end for the purposes of filing accounts and tax returns is determined by the date when it was incorporated, but it suits some firms to change this accounting reference date to make it longer or shorter. Coddan can help you to achieve this.
If you want to shorten your financial year, it's possible to do so repeatedly, and the minimum it can be shortened is one day. The rules from Companies House state that the reporting period can be extended 18 months at most and beyond that if the firm is in administration.
The financial year can only be lengthened once in five years but longer for companies in administration and those that want to have the same reporting date as their parent company or subsidiaries. Outside of that, permission is required from Companies House.
In addition to helping you change your accounting reference date, Coddan can also assist with the preparation and filing of your annual accounts and tax returns, so that you’re in full statutory compliance at all times and are not hit with any fines.