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Najeeb1
May 15, 2025
Question

Why is the start of the tax year options only give you the 01 Apr or 6 Apr to choose from for a company account while these dates might not relevant to the company

  • May 15, 2025
  • 1 reply
  • 0 views

When choosing tax year in the company set up page, the only two options to choose from are 01 Apr or 06 Apr. These might be relevant to an individual /sole trader for self assessment but not to a limited company which has its own financial year and tax year that might be different from the UK tax year for individuals.

1 reply

I
Irene R
May 15, 2025

QuickBooks Online sets the tax calendar opening dates to April 1st or April 6th to align with the beginning of the UK tax year, Najeeb1. Let's explore this topic further.

 

When configuring the start of your tax year, you can only select the following dates to adhere to the UK tax calendar. Given the complexity of adjusting your company's accounting to its financial and tax timelines, it's advisable to seek guidance from your accountant on what day to choose.

 

If you don't have an accountant, I can help locate one by checking out this page: Find a QuickBooks ProAdvisor.

 

Additionally, this article provides detailed steps on tracking your VAT payment and deadlines to help avoid late fees and penalties: File your VAT return and record tax payments in QuickBooks Online.

 

I'll monitor this thread if you require additional assistance managing your company accounting preferences. Just keep me posted by mentioning my name in the comments below.

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