Change accounting period within a groupMTM Legal
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Two of the companies of five within a group have been making losses for the last two years and the directors are planning to close them down as soon as possible. As part of of this strategy the directors are planning to extend the accounting reference date by 6 months while winding them down and subsequently strike them off. However, they have already filed the audited accounts for the three profitable companies. What would be the implications or consequences of this plan in terms of auditing, filing, CT computation?