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 private 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.