Hi,
I have a client , its their first year of trading and the accounts according to companies house should be filed today 27/11/2013, as the company was first registered 27/02/2012.
I have today logged onto companies house via the authentication code and changed the accounting ref to 05/04/2013. It appears that the reference date has changed, but it still says the next accounts are due on the 27/11/2013
Accounting Reference Date: 05/04
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 27/11/2013
Last Return Made Up To: 27/03/2013
Next Return Due: 24/04/2014
Are the accounts due today or not?
No answer via the phone to get confirmation.
Can anyone advise?
Replies (18)
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may be correct
I think there is a maximum period for which the first accounts must be filed irrespective of accounting year end, possibly 21 months.
Yes
The accounts are due today, 9 months after the first anniversary of incorporation, extending the AR does not change that.
Give them time ...
Have you had a confirmation email from Companies House to say that the change in accounting reference date has been accepted? From recollection, it can take up to 2 days for the change to be processed.
You get no time-extension if you extend the first year's accounts - but counter-intuitively you do if you shorten.
So, you must have extended from 28/2/13 to 5/4/13 for the screen shot to be as it is - had you shortened instead you would have had longer to file (but perhaps then the CT600 would be late instead).
If you do not mind what the year-end is, shortening today to 31/1/13 will mean that your first filing deadline will be the CT600 on 31/1/14.
Work around
What part of ...
If you do not mind what the year-end is, shortening today to 31/1/13 will mean that your first filing deadline will be the CT600 on 31/1/14.
and
Why don't you now try shortening the period to (say) 31 March 2013? You might then get the benefit of s.442(4)(b) with the filing date being set to 27 February 2014.
[EDIT] Sorry! The first accounting period would need to be less than 12 months, so shorten it today to 31 December 2012 or 31 January 2013 and the filing date will become 3 months from today, 27 February 2014.
... did you not understand?
Too late?
What part of ...
If you do not mind what the year-end is, shortening today to 31/1/13 will mean that your first filing deadline will be the CT600 on 31/1/14.
and
Why don't you now try shortening the period to (say) 31 March 2013? You might then get the benefit of s.442(4)(b) with the filing date being set to 27 February 2014.
[EDIT] Sorry! The first accounting period would need to be less than 12 months, so shorten it today to 31 December 2012 or 31 January 2013 and the filing date will become 3 months from today, 27 February 2014.
... did you not understand?
Euan, I thought you could only change it once every 5 years? Might be wrong but I'm sure I've read something similar.
Not too late
Euan, I thought you could only change it once every 5 years? Might be wrong but I'm sure I've read something similar.
You can only extend the accounting period once every 5 years in accordance with s.392(3) CA 2006, but you can shorten it as often as you like - and this would be the first such shortening for the new company.
Well! It will not be too late if the OP does it by midnight today!
Every day is a school day, especially as a student!
Euan, I thought you could only change it once every 5 years? Might be wrong but I'm sure I've read something similar.
You can only extend the accounting period once every 5 years in accordance with s.392(3) CA 2006, but you can shorten it as often as you like - and this would be the first such shortening for the new company.
Well! It will not be too late if the OP does it by midnight today!
Thanks! Learn something new every day.
It is the law
... as set out in s.442(3)(a) Companies Act 2006.
Why don't you now try shortening the period to (say) 31 March 2013? You might then get the benefit of s.442(4)(b) with the filing date being set to 27 February 2014.
[EDIT] Sorry! The first accounting period would need to be less than 12 months, so shorten it today to 31 December 2012 or 31 January 2013 and the filing date will become 3 months from today, 27 February 2014.
First Period Accounts
The filing date for first period accounts is slightly different to the following periods. They must be filed 21 months after incorporation and extending the year end does not change this.
File the accounts?
Bit of a facetious suggestion I know, but why have you hit the deadline like this?
The 21 months from incorporation is not a new requirement for first accounts. The year end would have been 28/2/2013, almost 9 months ago, giving ample time to get the accounts done. If the fault is the client's then inform them their tardiness is going to cost them a penalty. If the fault is yours then agree to clear the penalty. Just make sure you don't miss the 27/12/2013 deadline, as the fine will go up then.
Try it - now!
What have you got to lose? Make sure that you don't try to be too clever - you have to set the date to before 26th February 2013.
Just as an aside, I trust you discussed this lengthening and shortening of the accounting period with your client and haven't just done this to avoid penalties????