Quick answer needed!

[Tak3-a-S3at]

My Company was incorporated on 23 Jan 2006. Can I start my accounting year from 1 Jan 2006 or do I have to stick with the formation date????? I was trading prior to the Company being formed in a very small way (ebay only). Can anyone give me an answer. I am trying to set up a set of bboks at the moment and need to know this for that propose too.

[Alpha]

My Company was incorporated on 23 Jan 2006. Can I start my accounting year from 1 Jan 2006

N0

[creospace]

And a quick answer recieved!

[Tak3-a-S3at]

Thanks Alan. In that case can I start my Books from 1 Feb 2006. Starting for an odd date such as 23 Jan doesn't seem right - or am I wrong.

[Alpha]

In that case can I start my Books from 1 Feb 2006.

Yes :D

[Tak3-a-S3at]

Thank once again Alan. Your short and sweet answer does the Job. Cheers for now.

[dcaccounting]

Remember you must keep your records and account from the 23rd January...

Your year end can be 31st January but you must inform companies house of change of ARD (accounting reference date)

Regards

Dean

[dcaccounting]

To help even further...

Form 225 Change of accounting reference date

http://www.companieshouse.gov.uk/forms/generalForms/225.pdf

Regards

Dean

:D

[Alpha]

Your year end can be 31st January but you must inform companies house of change of ARD (accounting reference date)

If the company was formed on 23/01/2006 the company year end date IS 31/01/2006. There is no need to change the ARD.

His first year accounts will cover from 23/01/06 to 31/01/07.

The only things to watch for are

1) although normally you have 10 months after the end of the accounting period to file your accounts in the first year they must be filed within 22 months of the date of registration so must be filed by 30/11/06.

2) A corporation tax return can only be for a period not exceeding 12 months so the first returns will most likely be done to cover the periods from 23/01/06 to 22/01/07 and 23/01/07 to 31/01/07.

By using most accounting packages he will have to set the start date to 01/02/06 to ensure that it correspond year on year with the accounting year end although this should not stop invoices being posted dated prior to 01/02/06 :D

[dcaccounting]

If the company was formed on 23/01/2006 the company year end date IS 31/01/2006. There is no need to change the ARD.


Ah yes! Was being efficent in helping out and totally overlooked the obvious! :oops:

Regards

Dean