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Changing The Accounting Reference Date

It is referred to as the final date by which the company’s financial accounts should be prepared. It is also known as company’s year-end.

 

Not be misunderstood as an annual account due date.

Annual accounts due date is a different concept and should not be misunderstood with accounting reference date. Annual accounts due date is a deadline by which your annual financial accounts should reach Companies House. Missing this deadline can bring a penalty of up to £1500 with it which depends on how late you are.

What decides accounting reference date?

The end of the month on which company was incorporated is automatically chosen as the accounting reference date. Say, you founded a company on January 5th then its accounting reference date would be January 31st.

Filing Annual Accounts

A company’s first annual accounts are bound to include all activity from its date of incorporation to the accounting reference date. Note that the first occurrence date should be skipped else accounts would be needed to be filed less than a month of incorporation, remaining accounts shall start and finish from the accounting reference date.

Altering the Account reference date

There is a way to change the accounting reference date which is bound by strict rules defined by GOV.The UK in regards to what you can and cannot do. For further information on changing the accounting reference date check here.

Looking Out Your Company’s accounting reference date

Check your company’s accounting reference date by logging on to your Company Formation 123 account and look for ‘My Companies’ and find your company name, under ‘Company Details’ section you can easily see your accounting reference date.

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