Originally posted by BolshieBastard
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Winding up a company, possible to extend the final financial year?"
Collapse
-
-
Concur with Maslins.
In this context "accrue" means just include the transactions in this year and be done with it. Maybe not strictly accurate date wise, but the right amino of tax is paid with minimal hassle.
As always, get personalised advise tho,
Leave a comment:
-
Originally posted by Maslins View PostIf it's literally a handful of transactions which crept into the next accounting year I might be inclined to simply accrue them.
Alternatively changing a company's year end is very straight forward, just can't be done too often (not a problem unless you changed it recently). Only other trivial downside is that if you make the period longer than a year, for CT purposes it'll be split in two, meaning two corporation tax returns...but your accountant will likely deal with this for you.
BTW, what do you mean 'accrue them' with regards to a limited co and the circumstances I mentioned?
Leave a comment:
-
If it's literally a handful of transactions which crept into the next accounting year I might be inclined to simply accrue them.
Alternatively changing a company's year end is very straight forward, just can't be done too often (not a problem unless you changed it recently). Only other trivial downside is that if you make the period longer than a year, for CT purposes it'll be split in two, meaning two corporation tax returns...but your accountant will likely deal with this for you.
Leave a comment:
-
Yes, but you cannot do it retrospectively. Current guidance.
Guidance - Accounts and Accounting Reference dates (GBA3CA)
Leave a comment:
-
Winding up a company, possible to extend the final financial year?
Given the market is carp, Im seriously considering winding up the limited co while I consider perm and any (I hope!) contracts opportunities that happen to come along. I cant speak to the accountants until tomorrow either.
However, the company end of year was the end of March. Is it possible to extend a financial year by a couple of months to make winding up tidier rather than doing a normal end of year then another set of accounts for virtually no period? There are a couple of payments made from the company bank account after the financial year end.Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: