ARD Accounting Reference Date

[richy]

I've got a new LTD company, thinking what is best year end. I know 31 March is conventional, but would 5 Apr be better? Is that allowed?

Often when submitting BTL mortgage applications in my personal name, the bank's find it confusing that the LTD company year end dates do not match the Personal tax year 6 Apr- 5 Apr following year. My other LTD company, which caused these confusions has a reference date of 31 Dec.

[WTFH]

I've got a new LTD company, thinking what is best year end. I know 31 March is conventional, but would 5 Apr be better? Is that allowed?

Often when submitting BTL mortgage applications in my personal name, the bank's find it confusing that the LTD company year end dates do not match the Personal tax year 6 Apr- 5 Apr following year. My other LTD company, which caused these confusions has a reference date of 31 Dec.

Best take advice from your accountant.

[eek]

I've got a new LTD company, thinking what is best year end. I know 31 March is conventional, but would 5 Apr be better? Is that allowed?

Often when submitting BTL mortgage applications in my personal name, the bank's find it confusing that the LTD company year end dates do not match the Personal tax year 6 Apr- 5 Apr following year. My other LTD company, which caused these confusions has a reference date of 31 Dec.

Just use 31st March - why make things complex...

[richy]

Best take advice from your accountant.

What's the point of being on an accounting forum if you don't want to discuss?

[ContrataxLtd]

Your ARD shouldn't have any impact really, unless you have a particularly seasonal business (presume not?) but if you changed it to 31st March you could then make up your accounts to 5th April each year if you really wanted too.

If you are only thinking of doing it for bank purposes then personally I wouldn't bother.

Martin
Contratax Ltd

[WTFH]

What's the point of being on an accounting forum if you don't want to discuss?

There's a difference between discussing and asking for advice every step of the way.

https://forums.contractoruk.com/sear...vBForum_Thread

Do you have an accountant or are you trying to do it all yourself?

[TheCyclingProgrammer]

Mine is the anniversary of my formation, so 8 Jan. I've never felt the need to change it, it just means that one of my quarterly dividends falls in the personal tax year falls in the next accounting period.

[BrilloPad]

There's a difference between discussing and asking for advice every step of the way.

https://forums.contractoruk.com/sear...vBForum_Thread

Do you have an accountant or are you trying to do it all yourself?

The other thing that upsets people is where advice is given. Then the question changes due to further information!

[eek]

Mine is the anniversary of my formation, so 8 Jan. I've never felt the need to change it, it just means that one of my quarterly dividends falls in the personal tax year falls in the next accounting period.

I re-started contracting on April 6th (2012). It seemed easier all round to use March 31st as the year end as it keeps things simple...

[richy]

There's a difference between discussing and asking for advice every step of the way.

https://forums.contractoruk.com/sear...vBForum_Thread

Do you have an accountant or are you trying to do it all yourself?

Yes I have an accountant. I don't know everything. And I also discuss with my accountant.

Have you thought about ignoring forums if you're not keen on contributing?