How do I change the length of my company’s financial year or make it end on the last day of a month? – UKKO Sole Trader

The end date or length of a limited company’s financial year is changed by amending the company’s articles of association and notifying the Trade Register of the change through the YTJ service. Changing the financial year is therefore not merely a setting that can be changed in the service.

How to change your financial year

Decide on the new financial year.
A regular financial year lasts 12 months and usually ends on the last day of a month. An exceptional financial year may be shorter or longer than 12 months, but it may not exceed 18 months. The UKKO Entrepreneur service for limited companies requires the financial year to end on the last day of a month.
Make the decision at the general meeting.
The general meeting decides to amend the company’s articles of association. Record the new financial year in the minutes of the general meeting.
Notify the change through the YTJ service.
Notify the Trade Register of the amendment to the articles of association through the YTJ service. At the same time, report the start and end dates of the current exceptional financial year and the new regular financial year. The current financial year and the new financial year must end on the same date. The notification is subject to a fee.
Submit the notification on time.
The notification of the change must be submitted no later than two months before the date by which the new financial year must be registered at the latest.
Notify UKKO of the change as well.
Once the change has been notified or registered, provide UKKO with the details of the new financial year so that your bookkeeping and financial statement schedules can be updated correctly.

The new articles of association may not be put into effect before the change has been registered in the Trade Register.

If you want your financial year to end on the last day of a month

Choose the last day of the month you want as the new end date of your financial year.

The last day of February is normally 28 February and, in a leap year, 29 February. If you want your financial year to end on the last day of February, enter 28 February as the date.

Please note that the financial year and the VAT reporting period are two different things. Changing the financial year does not automatically change the VAT reporting period.

Please also note

You can find more information about changing the financial year and the documents required directly from the Finnish Patent and Registration Office (PRH).
A Trade Register processing fee is charged for changing the financial year.
The current financial year may become shorter or longer than usual as a result of the change.
The deadlines for submitting bookkeeping and financial statement materials after the end of the financial year are determined based on the new financial year.
Notify UKKO of the change well in advance so that your bookkeeping and financial statement processing can be assigned to the correct financial year.
Do not report the new financial year in the service based solely on a plan. First make sure that the change has been made and notified to the authorities.

Frequently asked questions

Can I change my financial year to end on, for example, 30 June?

Yes. Your financial year can end on the last day of any month, provided that the change is made to the company’s articles of association and notified to the Trade Register.

Can a financial year be longer than 12 months?

An exceptional financial year may be no longer than 18 months. After that, the regular financial year must be 12 months long.

Can I change my financial year retroactively?

The change to the financial year must be notified before the deadline for registering the new financial year. The change cannot be put into effect before it has been registered.

Does changing the financial year also change the VAT reporting period?

No, not automatically. The financial year and the VAT reporting period are separate matters. If you also want to change your VAT reporting period, submit a separate notification to the Finnish Tax Administration.

If you need help

If you are unsure how changing the financial year affects your company’s bookkeeping or the schedules in the UKKO service, send us the following information:

the company’s name and Business ID
the current financial year
the planned new financial year
the date on which you intend the change to take effect
information on whether the change has already been notified through the YTJ service.

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