First accounting period

[boxingbantz]

I have set up my own LTD company and have sent a New Company Details CT41G reminder. I had previously returned the phone to advise HRMC that I haven't started working/trading yet but, I assume, it never found them.

I have been told that I need to inform them of when I expect my first accounting period to start. It this simply the date that I start the contract and, therefore, earning or will be the date when my company first receives revenue?

Any help would be appreciated as I'm a novice with this at the moment but learning quickly.

[Clare@InTouch]

Just let them know the date you start trading, which will be the first day of your contract. The date you first receive money isn't important.

[boxingbantz]

Just let them know the date you start trading, which will be the first day of your contract. The date you first receive money isn't important.

Thank you very much.

[northernladuk]

Will you be getting an accountant when you start trading?

[boxingbantz]

Will you be getting an accountant when you start trading?

Definitely.

[Alan @ BroomeAffinity]

When completing the CT41G remember to set your "date to which first accounts will be prepared" to be less than a year away from your trading start date as an accounting period of more than a year can be a bit messy for CT - you'd need to do 2 returns. And also, make sure that your year ends align at CH and HMRC: The default year end at CH will be 12 months after the end of the month in which you incorporated - inc date 12/09/11, default year end 30/09/12 - which mat not suit you, especially if the company has lain dormat for a bit.