Extending financial year end

In first year

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Company was incorporated on 08/01/20, if they change their first year end to 28/02/21 from 31/01/21 will the filing deadline still be 08/10/21 as it is 21 months from incorp date or will they be given an extra three months from the date the year end is changed? 

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By rmillaree
08th Sep 2021 08:51

I always worry about first year extensions as i think the rules are different -i could be wrong but would be slightly worried no extesnion may be granted if you "extend" . I may be wrong again but i think you may be able to get around this by extending one day more than you need (ensuring you are not late!!) then shortening by one day to day you need - don't rely on my memory being correct though as i am over 50 !!

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Replying to rmillaree:
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By thevaliant
08th Sep 2021 10:36

That will work.

For the first year, the filing deadline is 21 months from incorporation, to the day. Extending does NOT change this.

But the shorten a day legislation does override the 21 month filing deadline so the answer is indeed to extend by one day further than you require, then on the day before the deadline (make a reminder) to shorten the year by one day.

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By andrew1211
08th Sep 2021 09:04

Still got the COVID extension option...maybe?

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By Paul Crowley
08th Sep 2021 09:41

First year filing deadline does not move if the accounting date is changed.
First year is always short being based on 12 months from date of incorporation, NOT accounts date that could be an extra 30 days later

Covid extension is I think possible for an exact 3 months, but will still be an irregular date.

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Replying to Paul Crowley:
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By DKB-Sheffield
08th Sep 2021 11:20

I can confirm the extension was granted for one of my extended 'first-year filing' clients.

I had a client who extended in July 2021, from a 31/10/2020 first year end to 31/03/2021 year end (filing deadline 16/07/2021).

Clearly, extended date didn't change filing deadline.

Applied under 3 month extension and it was granted (16/10/2021). Client had been affected by COVID, but I also stated that extended period had left only 3 and a half months to file (not sure which excuse they used).

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