Clarification on 21 months deadline account filing

Is my company eligible to file accounts within 21 months or it needs to be filed in 12 months

Didn't find your answer?

It's the company's first year and first time to file annual tax return to companies house and HMRC.

What is this 21 months deadline period is about and who's eligible for it?

Edit: Please assist me in answering this question.

Replies (28)

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By David Ex
30th Sep 2022 15:34

If you don’t have an accountant, you need one now - as someone suggested in response to your previous post.

The information you need is freely available if you use Google.

And why not say “please” when you are asking for help?

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Replying to David Ex:
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By Jil Tak
30th Sep 2022 15:52

Hi thanks for reminding me, I forgot to say please.

Ironically google brought me here. I don't know what's with this stalking you doing going though what I have posted. it will only encourage people to create new account to post here without someone like you bring up their post history and telling them go google it or get an accountant.

Isn't this is a platform for seeking help with similar questions?

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Replying to Jil Tak:
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By CJaneH
30th Sep 2022 16:10

The site is for accountants at various levels of qualification & experience, but not for those people taking a DIY approach to business administration.

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Replying to CJaneH:
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By Jil Tak
30th Sep 2022 16:20

Wanting to know a piece of information on how things work isn't a DIY, also are you suggesting this site discourage people on taking a DIY approach?

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Replying to Jil Tak:
Stepurhan
By stepurhan
30th Sep 2022 16:32

Jil Tak wrote:
also are you suggesting this site discourage people on taking a DIY approach?

The about page for this site starts
Quote:
AccountingWEB.co.uk is the largest independent online community for accounting and finance professionals in the UK
so it's not really aimed at the general public.

Also, most members will discourage a DIY approach. This is for the very good reason that it is very easy to get into big trouble. Mainly because, not being an accountant, you won't even realise you had a problem to ask about until it is too late.

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Replying to stepurhan:
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By Jil Tak
30th Sep 2022 17:23

Meaning also it's not exclusive to accountants either,
Giving there is question and answers freely accessible to public and without prior verification to post a question.

I agree DIY isn't a good approach but also the fact that nobody is responsible for ones actions.

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Replying to Jil Tak:
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By Paul Crowley
30th Sep 2022 17:27

Which of course does mean that some other newbie could answer the question.
You can now advise others on the opt to tax rules, as an example.

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Replying to Paul Crowley:
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By Jil Tak
30th Sep 2022 17:51

What you're saying now defeats the comment about not being aimed at general public, but still I appreciated.

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Replying to Jil Tak:
RLI
By lionofludesch
30th Sep 2022 18:30

Jil Tak wrote:

What you're saying now defeats the comment about not being aimed at general public, but still I appreciated.

"Aimed at" and "hitting the target" are two distinct things.

As you yourself have proved.

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Replying to Jil Tak:
Stepurhan
By stepurhan
01st Oct 2022 21:02

Jil Tak wrote:

Meaning also it's not exclusive to accountants either,

It is accessible to the general public because Sift have not opted to make being a finance professional a requirement. This is because it would be impossible for them to police. It is perfectly possible to be a good finance professional without a named qualification, so that is a sensible move on their part.

But that doesn't alter the fact that it is not intended for the general public. It is not meant to be a forum for the general public to ask finance questions. It would also be foolish for a member of the general public to rely on answers, since they will have no way of knowing if the respondent is a finance professional or not.

However, that is missing the main point I was trying to make. This is an issue that anyone running a company will come across because they will receive letters prompting them. There are a whole host of issues the amateur will not be aware of until too late because they do not generate such automatic prompts. You're just storing up trouble for the future not paying a professional to alert you to these issues.

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Replying to Jil Tak:
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By Paul Crowley
30th Sep 2022 17:05

Stalking
Are you serious?
Any decent accountant responder will look at your prior questions so understand your depth of apparent knowledge and thus be best placed to give an appropriate response, and more importantly not tell you yet again what you have already been told.
What you would call stalking costs responders extra time in an attempt to be careful and considerate

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Replying to Paul Crowley:
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By Jil Tak
30th Sep 2022 17:32

Looking through someones post history to help them better that's absolutely okay and appreciated,

Bringing it up again in their response to the questions means stalking, if you don't want to help don't no need to spend time flaming them and target their post history.

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Replying to Jil Tak:
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By Paul Crowley
30th Sep 2022 17:52

'Bringing it up again in their response to the questions means stalking.'

Complete Gobbledegook
One event could NEVER be stalking

But if you choose to annoy the regular responders, feel free. The platform is open to all.

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Replying to Jil Tak:
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By David Ex
30th Sep 2022 17:16

Jil Tak wrote:
<:p>

Isn't this is a platform for seeking help with similar questions?

No it isn’t and if you can’t read and understand the rules of an Internet forum, you’ll struggle to prepare compliant statutory accounts and tax returns for a company.

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Replying to David Ex:
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By Jil Tak
30th Sep 2022 18:27

Looks like you're having a bad day based on your response to my question, I have things to do so I'm going to leave it at that.

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Replying to Jil Tak:
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By Leywood
30th Sep 2022 20:05

Wish you would.

You are just so rude.

Oh and join under a different name will get the same answer of you needing an Accountant. Never mind it being against site rules.

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David Winch
By David Winch
30th Sep 2022 16:08

In brief, information from the annual accounts of the company needs to be sent to Companies House within 21 months of the company's date of incorporation.
Let's suppose the company was incorporated on 20 January 2021 and commenced to trade immediately. The first accounts of the company would normally be prepared to 31 January 2022. The information from those accounts would need to be filed at Companies House by 20 October 2022, which is 21 months after the date of incorporation.
Normally you have a little longer to file a Corporation Tax return with HMRC. This could be filed up to 20 January 2023 (which is 12 months after the first year of trading).
An accountant could help you prepare the documents to be filed.

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Replying to davidwinch:
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By Jil Tak
30th Sep 2022 16:28

Many thanks sir,
This makes it very well clear for me.

I really appreciate your explanation with example.

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Replying to davidwinch:
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By legerman
02nd Oct 2022 17:50

davidwinch wrote:

Normally you have a little longer to file a Corporation Tax return with HMRC. This could be filed up to 20 January 2023 (which is 12 months after the first year of trading).
An accountant could help you prepare the documents to be filed.

Also worth pointing out that any tax due to HMRC would need to be paid 21 months (plus one day) after incorporation date, if trading immediately

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By SXGuy
30th Sep 2022 16:11

I think you're trying to refer to having 9 months after your year end, which may be 12 months after the start of trade, to file your accounts, tax return and/or pay the tax due.

But the above is not always true, depending on the situation, which is unclear from your post.

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Replying to SXGuy:
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By Paul Crowley
30th Sep 2022 17:24

Other than by fluke of start date the accounts will be between 12 and thirteen months long. If client thinks 9 months after accounts date then late filing is a significant risk

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Replying to Paul Crowley:
RLI
By lionofludesch
30th Sep 2022 19:09

Paul Crowley wrote:

Other than by fluke of start date the accounts will be between 12 and thirteen months long. If client thinks 9 months after accounts date then late filing is a significant risk

Only a 29 Feb incorporation date will give you a first period of exactly a year.

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By bendybod
06th Oct 2022 09:25

You can look your company (or anyone else's company) up on Companies House's website and it tells you your next filing deadline.

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