Does Members voluntary liquidation require change of year end

Does Members voluntary liquidation require...

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I am an IT Contractor, and want to wind up my Ltd company via Members voluntary liquidation, as am not expecting to do any paid work in the forseeable future.

My Accountants will providing the liquidation service, but before we have got to that, have had a few confidence issues with advice over what needs to be done. The latest is that I am told that in order to do this in the middle of my company financial year, It will be necessary to change the year end date via form AA01 to the date I cease trading. Can anyone please confirm whether this is correct or not?

Many thanks for any assistance.

Replies (3)

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By johngroganjga
28th Mar 2015 07:48

You don't have to but it will be convenient to do, so that accounts and a tax return can be prepared up to the date of cessation in order for the tax position to be established and agreed as soon as possible and the winding up can proceed.

But if you don't understand the reasons for your accountants' advice why don't you ask them to explain it?

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Replying to Truthsayer:
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By dan_j_carter
28th Mar 2015 10:07

Thanks for the response - makes complete sense.

However, I did ask, and was told it was compulsory, which seemed doubtful, hence this posting. Thanks again

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By User deleted
28th Mar 2015 13:23

Sounds like ...

... your accountants are confused between periods of accounts (accounts) and accounting periods (tax). Appointment of liquidator automatically brings the latter to an end.

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