Accounting Reference Date
The Accounting Reference Date refers to the end of the financial year of any company or the limited liability partnership commonly known as the LLP. The Accounting Reference Date is mostly known by the name of the ARD. The ARD is a particular date when any company makes up to the annual financial accounts.
Usually, the Accounting Reference Date seems to be observed on the day that is the last day of the month in which the company was being registered with the company house. Most of the companies are seen to be changing the Accounting Reference Date of the company for availing of the benefits of,
• It helps in the deferring of the tax liability of the company.
• Helps in the aligning of it with the help of the personal tax year.
• Avoids the deadline delay for the submission of the accounts.
• Helps to avoid the extra work pressure during the busy schedule.
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