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Typically, a company's bylaws will state the fiscal year-end or provide that the fiscal year will be fixed by the board of directors. A change in fiscal year often requires approval by the board of directors and occasionally, an amendment to the bylaws.

Report change to Companies House You may take this filing opportunity to report your new trading activity with Companies House. You may report the change of your principal business activity by updating your SIC code. In other words, you choose the code that closely represents your current business activity. That's it.

Change Memorandum and Articles of Association To make the necessary modifications you will need to hold a meeting of the directors and pass a Special Resolution. The signed resolution should be returned to Companies House along with replacement or amended copies of the Articles where necessary.

It is possible for private limited companies to add new shareholders at any point after incorporation. For this to be done, the existing shares need to be sold or transferred by an existing shareholder to the new shareholder. On the other hand, an organisation could raise its share budget by authorising new shares.

You can lengthen your company's financial year: to a maximum of 18 months, or longer if your company's in administration. once every 5 years.

The first accounting period must be between six and eighteen months. Subsequent periods will usually be twelve months, but can be changed to anything from one day to eighteen months. An accounting period can be shortened as often as you like but can only be extended once every five years.

An accounting period can be shortened as often as you like but can only be extended once every five years.

As a general rule, the Companies House rules are more flexible and under certain circumstances it is possible to make a change to the year end. The Companies House accounting period can sometimes run for more or less than 12 months.

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