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• # 113140
• Tue 07 Jun 2016 11:47 AM

I came across the following question during a mock for level III B4, and have searched on HMRC and Companies House websites and general search engines but can't find any information. Can anyone help with where I can read about the topic.

Question : 'From the first date of trading – what is the longest period the first set of accounts can cover?'

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• # 113145
• Wed 08 Jun 2016 08:36 AM

Hi Harryans

I may be wrong and if I am I'm sure someone on here will correct me, but I think that if its a Ltd Co it's 18months and if its unincorporated then I think its 20 months. but obviously there will be adjustments for the overlap period. 

good luck

CAP

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• # 113155
• Thu 09 Jun 2016 08:30 AM

Thanks CAP. Where would one normally find such information?

Edited at 09 Jun 2016 09:32 AM GMT

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• # 113160
• Thu 09 Jun 2016 10:52 AM

Hi Harryans

I'm sure this was covered when I did my SA course and I think there was a publication on HMRC's website - www.HMRC.gov.uk/pdfs/sat1.pdf but I don't seem to be able to find it now. Thats not surprising tho cos you cant find anything since HMRC re-vamped their website. It might possibly have been archived.

I also look on the web as plenty of bookkeepers/accountants/tax advisors post questions and answers. just keep digging the information is out there

good luck

CAP

PS just found this - WWW.Taxationweb.co.uk/can I have a period of more than 18 months. - think that answers your question.

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• # 113162
• Thu 09 Jun 2016 04:06 PM

Thanks a lot CAP.

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