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Moving accounts year-end date

  • 05-11-2015 9:34am
    #1
    daveyjoe
    Registered Users, Registered Users 2 Posts: 1,464 ✭✭✭


    I'm self-employed and my current year-end date is December 31st. It would be advantageous for me in terms of tax to move my year-end date to October 31st. Is it possible to do this?

    Can I just change the date when I'm filing on ROS? For example, this year I would be filing for 1 January 2014 - 31 October 2014 and paying preliminary tax for 1 November 2015 - 31 October 2015.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    daveyjoe wrote: »
    I'm self-employed and my current year-end date is December 31st. It would be advantageous for me in terms of tax to move my year-end date to October 31st. Is it possible to do this?

    Can I just change the date when I'm filing on ROS? For example, this year I would be filing for 1 January 2014 - 31 October 2014 and paying preliminary tax for 1 November 2015 - 31 October 2015.

    talk to an accountant or tax advisor change in accounting date has a whole complicated set of rules. Its not just a matter of changing the date. There is prior year lookback rules and other effects in the first few years.


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