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Replace Fileds in the Demand For Extension Of Payment Date

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Aug 6th, 2022

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How to Replace Fileds in the Demand For Extension Of Payment Date

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and today we are talking about tax day seven on your sides Michael Finney is here with me and on a normal year Michael wed be exactly one week away from the deadline right right but right for most of the people here in California taxes arent due for another six months but were still going to talk about it because theres so much to know there is and theres a lot of good reasons to file now oh okay well lets talk about that because right now we want to talk about the extension and what you need to know Larry Pond of pond and Associates joins us now thank you so much for being here we have a lot of questions for you Larry hello Karina Mike all right so first lets talk about that extension because you know so many people have questions about it uh Larry can you tell us who is impacted and what that extension just means overall right so normally taxes are due April 15th and thats been um the rule for for decades well April 15th is Saturday so then we go to the closest Monday which i

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Can you shorten or extend the accounting reference date?

The first accounting period must be between six and eighteen months. Subsequent periods will usually be twelve months, but can be changed to anything from one day to eighteen months. An accounting period can be shortened as often as you like but can only be extended once every five years.

Why would a company extend its accounting period?

Extending the accounting period gives the company more time to prepare its accounts and ensures they are up to date. A business may reduce its accounting period as much as it likes, but there are rules about increasing it. It can do so only once every 5 years and for up to 18 months.

Can I extend my accounting period?

You can lengthen your companys financial year: to a maximum of 18 months, or longer if your companys in administration. once every 5 years.

How do you change the accounting reference date?

If you want to make your companys financial year shorter or longer than 12 months, you can apply to Companies House to change your accounting reference date. To change your ARD, you must complete form AA01 and deliver it to Companies House.

How often can you change your accounting reference date?

Its possible to change your accounting reference date by making your companys financial year shorter or longer than 12 months as long as your annual accounts are not already overdue. You can only make such changes for the current financial year or the one immediately prior.

Can you shorten an accounting reference date?

An accounting period can be shortened as often as you like but can only be extended once every five years. It is not possible to alter the accounting period if the filing deadline has already passed.

Can you change accounting reference date?

Can you change your accounting reference date? Fortunately, youre able to change your accounting reference date to make your companys financial here longer or shorter than 12 months. Keep in mind, however, that youll only be able to do this for your companys current financial year or the preceding financial year.

How do I change my accounting reference date 3 months?

 three months from the date of receipt of the application form AA01 (change the accounting reference date). Therefore if the accounting reference date is shortened by just one day that gains an additional three months in which to submit the accounts.

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