One of my clients (limited company) with a 31st May accounting date has asked whether it is worth changing his accounting period to match the tax year. So the next accounting period ending 31st May 2022 could be either shortened to 31st March 2022 or lengthened to 31st March 2023. I have never changed a company's accounting date before. If shortened as above cororation tax still due 9 months after period end date. If lengthened have to have 2 accounting periods; one for 1st 12 months (1st June 2021 to 31st May 2022 )and one for 10 months (1st June 2022 to 31st March 2023). Presumably dividends fall in the tax year of accounting period end date at the latest. I have never done this before so very interested in answers
8th Jul 2021
Changing Length of Corporation Tax Period
Is it worth shortening a company accounting period?
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