Does anyone know if you can shorten the ARD in the first year of a company to gain an extra 3 months?
Year end is 30 Nov, accounts due 22 Aug, if I shorten to 29 Nov will the due date for accounts be 3 months from the date of shortening?
Still waiting for some info, will be tight to turn around by 22 Aug but hopefully will have it all by the CT due date.
Thanks
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Nothing here to suggest it's not allowed:
https://www.gov.uk/change-your-companys-year-end
No idea what their "helpline" is like but you could give them a try.
The default year end on incorporation is the end of the month of incorporation the following year. This then requires two CT600 for the first year. So ignoring the filing date element of the question, by moving the ARD to the previous month it greatly simplifies the CT responsibilities so I do it for all new companies I set up.
I've often thought that HMRC and CoHo could've made the defaults exactly that and saved everyone a lot of trouble but there's no joined up thinking.
Martin - you're in a perfect position to let us know (albeit probably too late for the OP) - do you get another three months when you do the shortening ?
Not always, depends when the company comes within the charge to CT.This then requires two CT600 for the first year.
'The default year end on incorporation is the end of the month of incorporation the following year. This then requires two CT600 for the first year'.
This assumes that the first day of trading is the same as the incorporation date, which may not necessarily be the case, so only one CT600 may be required if trading starts on 1st day of next month, or later.
The default year end on incorporation is the end of the month of incorporation the following year. This then requires two CT600 for the first year. So ignoring the filing date element of the question, by moving the ARD to the previous month it greatly simplifies the CT responsibilities so I do it for all new companies I set up.
I'm with you MartinGWilson - I always do the same for exactly the same reason.
It wont work for much longer, seeing as the recent consultation is looking to restrict to being able to shorten only once every 5 years. :-)
About time id say!