Directors’ Resolution to Change Financial Year-End FAQs
Companies might decide to change their financial year end for a variety of reasons – for tax purposes, to align with the fiscal year of a parent company or main client, or to spread workloads evenly throughout the year, among others.
There are statutory restrictions on how the financial year end can be changed.
Consult your company secretary before using this Directors’ Resolution to Change Financial Year End.
How to Change Financial Year End
After changing the financial year-end by the Directors’ Resolution to Change Financial Year End, remember to file the relevant form to update the relevant government department or registry within the statutory time limit.
There are two options when using a Directors’ Resolution to Change Financial Year End:
- If a meeting of the board of directors is convened to change the financial year end, use a Board Minutes to Change Financial Year; or
- If the board resolution will be passed by way of a written resolution, use a Board Resolution to Change Financial Year.
What to include in a Directors’ Resolution to Change Financial Year End
- Details of the company;
- Details of the meeting (if using Board Minutes);
- Date of passing the resolution; and
- New financial year-end date.
About Author
Stay compliant with the Zegal template library
Zegal legal template are meticulously crafted with the precision of AI and the expertise of seasoned human lawyers, providing a unique blend of speed and reliability.
You can trust that Zegal agreements are legally sound and fully compliant with current regulations.
Whether you're a startup, SME, or a larger enterprise, Zegal contract management will automate and speed up your legal processes.
Using Zegal will reduce risk, save money, and improve efficiency. Let us take care of the paperwork so you can focus on running your business.
Don’t compromise on speed or compliance. Stay secure, compliant, and efficient with Zegal.
