extending an accounting period for a ltd company

extending an accounting period for a ltd company

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Good afternoon everyone.

I represent a limited company whose accounting period I have already shortened by 1 day.  The 3 months extension is almost up and the accounts will not now be filed ontime.  Am I able to further shorten the accounting period, again by a single day to enable the company to have a further 3 months for filing? 

If not I will extend the accounting period to a date far more convenient to the client. Would this give the client more time for filing?

Thank you.

 

 

 

 

 

 

Replies (7)

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Danny Kent
By Viciuno
01st Feb 2024 16:25

Why are they not done after an extension has already been granted?

In future don't lower yourself to making use of this "loophole" -you are just enabling clients and giving them the impression that the accounts are not important. They are and there is probably no reason for them not being done within 9 months of the year end. If there is, you contact Co House and request an extension.

Let them be late and they can suck up the fine.

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Replying to Viciuno:
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By I'msorryIhaven'taclue
01st Feb 2024 17:09

Viciuno wrote:

Let them be late and they can suck up the fine.

Tell them to p*ss off and stop bothering you on Dave Day!

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By paul.benny
01st Feb 2024 16:41

You can simply request an extension - there is an online form. To judge by the speed of approval those I have sought, they had only the most cursory of reviews. Whether you will be so fortunate given the automatic extension already granted, I wouldn't like to say.

That said, I agree with Viciuno. If Client still cannot get their act together, what makes you think won't be back in this position in another three months.

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By FactChecker
01st Feb 2024 18:22

This isn't the Barclay twins is it (with their finessing of overdue publication of accounts - see last issue of P Eye)?

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By DKB-Sheffield
01st Feb 2024 22:49

davidbarry wrote:

If not I will extend the accounting period to a date far more convenient to the client.

Dangerous game to start with this client!

I am assuming a rapidly approaching deadline suggests this is the first year's accounts? If not, we'd be talking end of Feb - and I'd not be even suggesting this to a client 4 weeks out!

The reason for my quote of your OP however is... just when IS it a convenient date for your client? 9 months to file, plus a 3-month extension already... that's a year in my book. So, why will next year be any different - regardless of the ARD? If filing in November is a bad time for them, they do have March to October.

I think I've only 'double dipped' once and that was in truly exceptional circumstances. Usually it's 'deadline, or pay fine'. Sounds harsh but, you give an inch...!

By the way... remember CT! That has a late filing penalty too... and needs accounts!

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By rmillaree
02nd Feb 2024 09:13

If not I will extend the accounting period to a date far more convenient to the client. Would this give the client more time for filing?

sometimes but not necessarily no - sometimes extending the period can even make the filing date go back in time so accounts would be instantly late - you are playing with fire extending deadlines.

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