Under section 288 of the new Companies Act 2014, the financial statements attached to a company’s first full annual return must cover the period from incorporation and must not be for a period longer than 18 months. Each subsequent financial year begins on the date immediately after the last financial year end date and must be for a period of no more than 7 days shorter or longer than 12 months. A company may, by filing a Form B83 with the Registrar of Companies (CRO), apply to alter its current or its previous financial year end date by not more than six months, which will then become its financial year end date for the future. Companies will set their financial year end date in the first set of financial statements filed with the CRO after 1 June 2015. Each subsequent financial year must begin on the date immediately after the last financial year end date and must be for a period of 12 months (+/- 7 days), unless the company files a Form B83 in which case the maximum of 18 months must not be exceeded.

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