How many people have fiscal years which are different than a calendar year, and what dates are they?

Maf. King maf at chilwell.net
Fri Mar 24 14:36:25 EDT 2017


On Friday, 24 March 2017 17:26:10 GMT Chris Serella wrote:
> > I use Mar 31 as my year end wherever possible, and try to avoid
> > transactions during the first few days of April!
> 
> Very new to accounts so this puzzled me. Once the date is altered what
> is it that makes you want to avoid transactions for the first few days
> of a new accounts year? Im also in the uk and am considering doing that
> change.

Hi Chris,

I suspect that most of my reasoning behind avoiding transactions is mostly 
tin-foil-hat based.

I don't mean that I avoid transactions at all costs, just that I try and get 
things a bit ahead at the end of the financial year, so while I' normally do a 
payment run on a friday, for example, in a year where April 1st or 2nd is on a 
friday, I'll do the run on 30/31st.  I also feel that for things like pensions 
or employee payments (where their reporting date may well be 5th April), just 
avoiding that overlap period avoids any _possible_ complications - not that 
there should be any!

Having a year end aligned with (any) month end makes sense to me, April 5th is  
IMHO daft, and I'd change it if I were Chancellor! (especially as VAT quarters 
run to calendar month-end)

getting OT, so probably best to keep any reply to this off the list

0.02
Maf


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