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Accounting Year - Optimal Choice?

CapedCrusader · 2010-05-12 10:01:53

Hi folks, Just wondering what should be considered when choosing your accounting year. What choice gives you the most time to prepare returns etc. I have a set of accounts that are calendar year based and I'm wondering if I need to change them to be based on a 12 month period from when trading started. So it would either…

12-05-2010 10:01am

#1

CapedCrusader

Registered Users, Registered Users 2 Posts: 215 ✭✭

Join Date: February 2008

Posts: 147

Hi folks,

Just wondering what should be considered when choosing your accounting year. What choice gives you the most time to prepare returns etc.

I have a set of accounts that are calendar year based and I'm wondering if I need to change them to be based on a 12 month period from when trading started.

So it would either be:

01-01 to 31/12

or

01/03 to 28/02

What are the implications on timing of returns etc for both choices?

Thanks

CC

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