Accounting periods

lisamarie86

Has anyone ever come across shorter or longer than 12 month accounting periods?

A client is about to become incorporated, and wants to have his accounts from now until September 2011 and then from September 2011 to September 2012. Or have then from now until September 2012. Is this possible? As far as I was aware, its 12 months from incorporation date?

Help please!!

Rozzi Rainbow

The default accounting period is 12 months but it can be changed. You need a "Change of Accounting Reference Date" form from Companies House website, I think it can also be filed online. The accounting period can't be longer than 18 months or I think shorter than 6 months (not 100% sure on that one) so I think the new date would have to be September 2012 rather than September 2011. There's also a limit on how often the accounting reference date can be changed, I think it's once every five years.

Rozzi Rainbow

PS - a point to note, if the first accounting period is extended, the date the first accounts are due is not - they will still be due 9 months after 12 months after incorporation, so you may find you have less time to produce them. This only applies to the first accounts, the second accounts will then be due 9 months after the year end.

deanshepherd

The default date is actually 12 months from the end of the month in which incorporation took place but it is entirely up to the client when they want their accounting period to run (subject to the 18 month maximum).