Another year end

At this time of the year, accountants talk a lot about the Self-Assessment tax deadline of 31 January and we would, of course, very much encourage our clients to get everything over to us in good time, as there are usually some questions which need answering.

At this time of the year, there’s another deadline which affects many of our clients and that involves limited companies with a year end of 31 March. Companies which work to that deadline are required to file their accounts for HMRC within nine months and one day from the end of the accounting reference date (ARD) – which means 31 December. This is when any corporation tax is due.

Companies can pick their own date for year-end accounts, but there is often a preference for 31 March, as it coincides with the end of the personal tax year.

As with the advice we give our sole trader clients, the earlier you can send everything through to us, the better. This is not only because of HMRC requirements, but it’s also useful to you as a business owner to see an overview of your company’s performance and to have those figures as up-to-date as possible. You might also need them to show banks or potential investors.

If you’ve got any questions at all, please get in touch: 01892 513515.