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Post Info TOPIC: New Company - first year options ?
Bucks Bodger


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New Company - first year options ?
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I have been approached by a new client and need to work out what to do in his particular situation

and would be grateful for some advice.

It's a Ltd Co., incorporated on 02.12.2013, but is only going to start trading this week. 

There have though been some pre-trading expenses. Companies House is
showing his ARD as 31/12, and are expecting accounts to 30.12.2014 to be filed by
30th September 2015. The Client would like the year end date to be 5th April (we'll steer him
towards 31st March!), and I was wondering how best to go about things.

Should we extend the ARD to 31st March now (assuming we can), and if we do, do we
then file dormant accounts from 2nd December 2013 to 31st March 2015 ?, or do we
file dormant accounts from 2nd December 2013 to 31st December 2014 and change the
ARD to 31st March afterwards ? Or do we file accounts with the pre-trading expenditure
thereby showing a loss for either 31st March 2015 (if we can change the ARD now) or to
31st December 2014 if we can't ? 

 

Hope that all makes sense !

 

 



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Eunice Cubbage
HendyPhilhendy


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you can extend the year end deadline to 31st March but the first deadline will still be the same. Be a bit wary also as I think it will be 2nd September 2015 not the 30th!

Make sure that HMRC are aware of the trading dates as they could think it is different if the CT41G has not been done properly.

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Phil Hendy, The Accountancy Mentor

Are you thinking of setting up your own practice or have you set up and need some help?

If so a mentor may be the way forward - feel free to get in touch and see how I can assist you. 

 
Bucks Bodger


Senior Member

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Well spotted, Phil, it is 2nd September, not 30th!

Thanks for the advice!

Eunice

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Eunice Cubbage
Cheshire


Master Book-keeper

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If there are post incorp expenses can it validly be classed as dormant? Think the rules say 'significant' but then dont define what that is. Ive seen loads of comment on Aweb in the past about not classing a company as dormant even if there are £5per month bank charges and he like going through the business.


__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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