Length of Financial Accounting Periods

Section 288 of the Companies Act 2014 requires that the financial statements attached to a company’s first full annual return must cover the period from incorporation and must not be for a period longer than 18 months.

Each subsequent financial year must begin on the date immediately after the last financial year end date and must be for a period of no more than 7 days shorter or longer than 12 months.

If the company requires to change its accounting date, it can do so by filing a form B83 with the Companies Registration Office. This can only be done once every 5 years (unless exempted by the Companies Act 2014 section 288 (10)). Any change in accounting period cannot result in the accounting period exceeding 18 months.

What questions do you have?

We are happy to help. Please post your comment below or contact Michael O’Halloran on 01 677 9000 or mohalloran@cooneycarey.ie.

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    Posted on June 27, 2017 by Cooney Carey