first year company period

first year company period

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Can someone answer my following question?

1) The first year of company period should it be exactly 12 months? E.g if the company was started on 16th july 2012, can the end period be 31 july 2013 instead of 15th of july?

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By johngroganjga
13th Jun 2014 14:59

It can be any date up to 18 months after the date of incorporation. The default date set by Companies House is the end of the month in which the first anniversary of incorporation falls. Any company that wants to make its accounts up to a different date from that has to change its accounting reference date at Companies House.

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Stepurhan
By stepurhan
13th Jun 2014 14:59

Get an accountant

This is one of the most basic questions of company accounting. If you do not even know the answer to this then actually putting the accounts themselves together is going to be beyond you. Leave it to the professionals.

If, as has been indicated by previous questions, you are an accountant, stop now. You are only leading yourself and your unfortunate clients into trouble if you don't even know the basics.

Incidentally, the answer to your question is not exactly hard to find. See Companies House Guidance

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By User deleted
13th Jun 2014 15:00

More muddled questions/statements

I've never heard of a year that wasn't exactly 12 months in length.

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Universe
By SteveOH
13th Jun 2014 15:01

Yes and No (or should that be No and Yes)

For accounts to be filed at Companies House the normal period for filing (unless you have elected to alter the accounting period) is from the date of incorporation to the end of the month falling 12 months after incorporation.

So for your company, the first accounts would be prepared and filed for the period 16th July 2012 to 31st July 2013.

For Corporation Tax purposes, an accounting period cannot be longer than 12 months. So, in your company's case, two CT Returns would need to be filed; one for the period 16th July 2012 to 15th July 2013 and a further Return for the short period 16th July 2013 to 31st July 2013.

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