Ramifications of Changing Year End

System
System Posts: 100,534 🤖 Admin 🤖
edited 12:08PM in AAT member discussion
My boss is looking into changing the year end from Oct-Sept to Nov-Oct. Mainly to bring into line the VAT quarters!

Can someone please advise on the consequences of this and what we need to look into doing.

Many thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ramifications of Changing Year End

    Why not move the VAT quater :roll:

    Regards

    Dean

    p.s if this is all it is for, you would be safer doing it the above way rather than changing the year end.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ramifications of Changing Year End

    Totally and utterly agree with Dean.

    Moving the VAT quarter involves one letter and maybe one extra return to HMRC, whereas moving the accounting year end involves Companies house, extra forms and extra work for Inland Revenue too.

    The VAT quarter is much the easiest date to move and it's quite common to ask them to move it in line with the Company's accounting year end.

    Annette

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