In the UK, companies choose their own year end. Companies in UK report to two entities – HMRC and Companies House. These entities are separate and the year end with one need not be the same as that with the other. This makes tracking all compliance deadlines challenging, not just for companies, but more so for accountants who manage hundreds of such companies.
The HMRC year end is agreed between the company and HMRC. The deadlines are: Nine months and one day for the tax payments and 12 months for the accounts. Continue reading