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Change your company's year end - GOV.UK
Change your company's year end You can change your company’s year end (also known as its ‘accounting reference date’) to make your company’s financial year run for more or less than 12 months.
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Changing a Company's Tax Year End | MoreBusiness.com
A C-Corporation may change its year-end without prior approval if: It has not changed its annual accounting period at any time within the preceding 10 calendar years, ending with the calendar year in which the short period which will result from the change begins;
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CIPC :: Changes to the Financial Year End
A close corporation may only change its financial year end once during a particular financial year. A close corporation may not choose a financial year end that will result in the total financial year being more than 18 months. A close corporation may choose to shorten its financial year in which instance there is no minimum applicable.
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Can You Change the Fiscal Year-End for Your Small Business?
Before considering a change in your fiscal year-end, it is helpful to know how your current year-end came to be. If you operate your business as a sole proprietorship or a partnership, the Income Tax Act automatically deems your fiscal year-end to be the calendar year, or December 31. If you operate your business through a corporation, your ...
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Want to change your year end? You need permission - The ...
It's mostly because changing your year-end creates a short year (under 12 months of revenue and profit) in the year you do it, and that may create both corporate and personal tax advantages.
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Corporation Tax and changing company year end | AccountingWEB
The corporation tax return will cover the period from Aug 2018 to July 2019. This is if you are sure the company has not started trading already. The benefit is that this will delay the due date for the tax and also mean accounting fees are saved. Alternatively if you didn't change the year end the accounts and tax return would both be to Feb 2019.
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What happens on a change of control of a corporation?
The deemed year-end will typically result in a short taxation year. The corporation will have to file a tax return for that short year within the normal time frame (6 months after the yearend). It will have to pay the balance of its tax owing for the year within 2 months after the year-end (or 3 months, for certain Canadian-controlled private ...
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Change of fiscal year-end - Canada.ca
Corporation income tax. Generally, unless you have received approval to change the tax year-end, the corporation’s fiscal period is the same from year to year. To change a fiscal period, write a letter to your tax services office asking for approval and include details to explain the reasons for the change. If you do not include the reasons ...
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Changing a C Corporation tax year | Small Business Community
My C Corporatin, AKGold Internet, Inc. used to be on a year ending April 30. This had to do with the time the corporation was created. Recently the Board decided to change the tax year to the regular year ending December 31. When my accountant filed my corporate taxes, he sent in the form for changing the tax year.
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