Change of Accounting Reference date

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I have company where the Accounts made upto  31/05/2021 are due by 21 February 2020. I would like to extend the accounting reference date for 3 months. Will it also change date for Corporation Tax Bill? 

This is the current possition:-

current accounting period : 31/05/2021 
Proposed Accounting period : 31/08/2021

Will it have any impact on Corporation Tax?

Regards,

Waqas Arshad

Replies (18)

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By OldParkAcct
24th Feb 2021 20:59

You will end up with 2 ct returns , year to 31/5 and 3 months to 31/8... with 2 ct payment dates.

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Replying to OldParkAcct:
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By waqas.arsh
24th Feb 2021 22:06

OldParkAcct wrote:

You will end up with 2 ct returns , year to 31/5 and 3 months to 31/8... with 2 ct payment dates.

So Have to file 2 accounts one is till 31/5 and other one is 31/8? Have to pay the tax one the income which is earned by 31/5?

Regards,
Waqas

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Replying to OldParkAcct:
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By waqas.arsh
24th Feb 2021 22:06

OldParkAcct wrote:

You will end up with 2 ct returns , year to 31/5 and 3 months to 31/8... with 2 ct payment dates.

So Have to file 2 accounts one is till 31/5 and other one is 31/8? Have to pay the tax one the income which is earned by 31/5?

Regards,
Waqas

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Replying to waqas.arsh:
Psycho
By Wilson Philips
24th Feb 2021 22:14

One set of accounts, but two (or possibly three) tax returns. If you hire an accountant he will be able to tell you exactly what is due and when.

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RLI
By lionofludesch
24th Feb 2021 21:05

Don't forget that the Companies House filing date remains 21 months from incorporation, so you'll only have 5 and a bit months to file.

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Replying to lionofludesch:
Psycho
By Wilson Philips
24th Feb 2021 21:46

Notwithstanding the nonsensical dates in the question, and the reasons involved, the solution to your ‘problem’ is to extend as planned and then, at the appropriate moment, shorten by 1 day.

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Replying to Wilson Philips:
RLI
By lionofludesch
24th Feb 2021 23:05

Of course. But you need to be aware of the problem before you can fix it.

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Psycho
By Wilson Philips
24th Feb 2021 21:34

Accounts made up to 31 May 21 due by 21 Feb 20. Can anyone make sense of that?

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Replying to Wilson Philips:
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By waqas.arsh
24th Feb 2021 22:06

Wilson Philips wrote:

Accounts made up to 31 May 21 due by 21 Feb 20. Can anyone make sense of that?

Sorry it was a typ Error. It is 21 Feb 2022.

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Replying to waqas.arsh:
Psycho
By Wilson Philips
24th Feb 2021 22:17

Are you sure that it’s 21 Feb?

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Replying to Wilson Philips:
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By waqas.arsh
24th Feb 2021 22:31

Wilson Philips wrote:

Are you sure that it’s 21 Feb?

It is 11 Feb 2022.

First accounts made up to 31 May 2021
due by 11 February 2022

Regards,
Waqas

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Replying to waqas.arsh:
RLI
By lionofludesch
24th Feb 2021 22:53

waqas.arsh wrote:

Wilson Philips wrote:

Are you sure that it’s 21 Feb?

It is 11 Feb 2022.

First accounts made up to 31 May 2021
due by 11 February 2022

Regards,
Waqas

OK you've given us three different dates now.

Your first return will be for exactly one year, whenever that ends - 11th, 21st, 31st whatever - and the second return will be for the rest of the POA to 31st August. Tax is due 9 months and 1 day after the end of each return period.

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Replying to lionofludesch:
Psycho
By Wilson Philips
24th Feb 2021 23:02

Possibly. OP hasn’t provided enough info. But I’ve spent enough time responding to IT consultants that seem to think they can do without the services of n accountant.

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Replying to Wilson Philips:
Flag of the Soviet Union
By thevaliant
25th Feb 2021 11:01

You can get all the dates from Companies House.
It is, as I suspected, a first incorporation:
https://find-and-update.company-information.service.gov.uk/company/12594262

Might put it on my watchlist so I can chuckle internally when the First Gazette is filed.

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Replying to thevaliant:
Psycho
By Wilson Philips
25th Feb 2021 11:23

That's why I asked if he was sure about 21 Feb being the filing deadline ;¬)

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Replying to Wilson Philips:
RLI
By lionofludesch
25th Feb 2021 12:01

Wilson Philips wrote:

That's why I asked if he was sure about 21 Feb being the filing deadline ;¬)

It was a dead giveaway. Hence the caution about the 21 month filing date at the head of the thread.

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Replying to lionofludesch:
Psycho
By Wilson Philips
25th Feb 2021 13:10

My point was that I had already checked and noted that the deadline was in fact 11 Feb.

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A Putey FACA
By Arthur Putey
25th Feb 2021 13:29

I wouldn't like to be the postman for the company's r/o

Rear Of, 973 Stockport Road ......

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