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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You will end up with 2 ct returns , year to 31/5 and 3 months to 31/8... with 2 ct payment dates.
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.
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.
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.
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 2022Regards,
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.
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.
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.
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.
I wouldn't like to be the postman for the company's r/o
Rear Of, 973 Stockport Road ......