As a limited company owner in the UK, you may want to choose your company’s incorporation date and accounting reference date. You may want a date that has meaning for you and is easy to remember, or you may want an immediate incorporation date. Alternatively, you may have been advised by your accountant to have your financial year end at a particular time of year (e.g. for retail companies, this may be after the expected period of peak sales). Although an incorporation date cannot be changed, you can ensure that it matches the date that you prefer by timing the submission of your incorporation application.
If you would like to form a limited company and choose the date of incorporation or accounting reference date then it is important to understand the rules and how this can be achieved. In this article we will explain what is meant by “date of incorporation” and how you can choose your limited company’s incorporation and accounting reference dates.
What is meant by the Date of Incorporation?
The date of incorporation is simply the date on which your limited company is placed on the public register of companies by Companies House once they have approved your application for incorporation.
Companies House does not always process company incorporation applications on the same day (they are typically processed within three-to-six hours), so the date of incorporation will not necessarily be the same as the date on which the application is submitted.
Can you choose a company’s incorporation date?
Yes; you can choose your company’s incorporation date using our guaranteed same-day formation service. If you prefer a company incorporation date that falls on a weekday (i.e. Monday to Friday) then you can use this service to ensure that it matches the date which you choose.
To ensure that your company incorporation date is the same as the date on which you submit your application, you must submit your application and pass our identity verification checks before the cut-off time of 1.30 pm UK time (please see below for more details). You will also need to ensure that the details which you provide with your application are complete and accurate. Any incomplete and/or incorrect information or problems with any details that you provide may delay the processing of your application by Companies House.
What steps must I follow to choose my company’s incorporation date?
There are a few key steps that you must complete when using our guaranteed same-day company formation service to ensure that the correct incorporation date is used. These steps are:
- Before registering your new company you must check that your proposed company name is not already being used and that the internet domain name is also available. We provide a free name checker service on our website to make this as easy as possible.
- Decide on the type of company that you wish to create (e.g. a private company limited by shares, a limited liability partnership or a company limited by guarantee).
- Choose which company formation package you would like to use (i.e. Basic, Proxy, Privacy, Advanced, and Premium). Each package offers different benefits at various fees to accommodate a range of budgets.
- Click “Buy Now” on your chosen package.
- Add any optional extras that you would like – one of these is the Guaranteed Same Day Company Formation service.
- Complete the rest of the application to incorporate your company and pay the required fee.
If necessary, you can request a “pre-submission review” when applying for your company incorporation. We will then review your application to correct any errors before we submit it to Companies House. This will avoid Companies House delaying or refusing your application due to missing or inaccurate information.
What are the ID (identity) requirements for registering a company?
To ensure that your incorporation date matches your preference, not only must you submit your application before 1.30 pm but you must also pass our mandatory identity checks. To prevent fraud and misuse of the company register, all company formation specialists are legally required to carry out strict Anti-Money Laundering (AML) and “Know Your Customer” (KYC) checks before submitting applications to Companies House.
The method for checking your ID will depend on whether you reside within the UK or outside. If you are a UK resident then we can carry out a digital check on your ID and address. To do this we will simply use the details that you provided with your incorporation application.
If you are a non-UK resident and, therefore, are ineligible for our digital ID check or do not pass it, then we will e-mail you details of the information and documents that we require to check your identity. The person registering the company, any directors and any PSCs (persons with significant control) must all provide a valid form of ID and a valid address.
ID checks can be carried out either by using a mobile phone app called “CREDAS” or by having your documents reviewed by a professional (e.g. by a solicitor or notary public, a chartered accountant, a doctor, a civil servant, a teacher or lecturer or else by a minister of religion). Alternatively, you can use the Post Office’s identity document certification service.
How long does it normally take to form a company?
Most incorporation applications submitted through electronic channels take between 3 and 6 hours. Companies House processes company incorporation applications only from Monday to Friday but not on bank holidays. Therefore, your company cannot be incorporated on a weekend or bank holiday. If you submit your incorporation application on a weekend or bank holiday then it will be held in a queue and will normally be handled on the next working day.
Can I change my company’s incorporation date?
Unfortunately, once your company has been incorporated, the date of incorporation cannot be changed. This is why it is important to ensure that you submit your incorporation application on your preferred day using our guaranteed same-day service.
Can I change my company’s accounting reference date (ARD)?
Unlike the date of incorporation, it is perfectly possible to change your limited company’s accounting reference date (ARD). The accounting reference date is automatically set as the anniversary of the last day of the month of incorporation. You may want to change the accounting reference date to bring the accounting period in line with that of another company or because your accountant has recommended a change. To change your accounting reference date you can apply online through the Companies House WebFiling service or complete form AA01. Depending upon your needs you can either shorten or lengthen your accounting reference period. There are some restrictions, however, of which to be aware. You cannot change a period for which the accounts are overdue and you cannot extend a period beyond 18 months unless your company is in administration.
Where can I find my company’s date of incorporation?
You can find your company’s date of incorporation in several places. If you incorporated your company through Uniwide Formations then you can log into your online account to see the correct date of incorporation. Another method of finding your company’s incorporation date is by using the online Companies House “search the register” service. Simply type in your company name, click “enter” and the date of incorporation will be shown.
Do I need to start trading on the date of incorporation?
There is no legal requirement that you must start trading from your date of incorporation, or from any other date for that matter. If you are not ready to start trading once your company has been incorporated, you can leave it in a dormant state until you are ready. Companies House view a company as dormant if it has no significant transactions within the financial year. According to their rules, significant transactions do not include any filing fees paid to Companies House, any penalties for late filing of accounts or any money paid for shares when the company was incorporated.
If your company is dormant then it is important that you inform HMRC of this. Remember; even if your company is dormant you must still file a confirmation statement and dormant company accounts with Companies House every year. You do not need to inform Companies House when you begin to trade because the next or first set of non-dormant accounts that you file with them will automatically tell them that you are now actively trading.
Final words
Whether you want to choose your own incorporation date for sentimental or practical (e.g. financial) reasons, you can do so by using our guaranteed same-day incorporation service. Remember; you cannot change your company’s date of incorporation once it has been registered. You can, however, change your company’s accounting reference date (ARD). You can quickly and easily lengthen or shorten your accounting period simply by completing an online form and submitting your request to Companies House using the WebFiling service.
