A newly incorporated client has an incorporation date of 7th Oct 2020 giving a ARD of 31 Oct 2021. They currently have no business activities but will have within the next 2 months.
They are a subsidiary of an American parent company with a 31 Dec year end.
They would like to have the same year end as the parent company.
I could extend the first accounting period to 31 Dec 2021 but if possible I would prefer to shorten it to 31 Dec 2020 meaning a 2 month accounting period. As the company is dormant the additional work re stat accounts and CT would be minimal I think.
I have read (ie googled) this and at first glance the first accounting period seems to be required to be a minimum of 6 months however I have come across a couple of sources saying that although s391 CA states that the first accounting period must be between 6 & 18 months this is subject to s392 CA which allows the shortening of accounting periods .
My question is therefore has anyone successfully changed the first accounting period to less than 6 months
Thanks for your time