Buying shares in a company does not create a new entity with a fresh filing history. Before adopting the buyer’s normal calendar, review the acquired company’s existing periods, deadlines and outstanding matters.
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Distinguish a share acquisition from an asset purchase through a different company. The responsible entity and records may differ materially.
Obtain the reporting history at handover
Request the recorded financial year end, last annual returns, financial statements, tax filings and relevant official queries. Include any extensions, exemptions or unresolved enforcement notices.
The seller’s statement that the company is “fully compliant” should be supported by evidence. A paid service invoice is not a filing receipt.
Example: the buyer assumes December year end
The buyer’s group uses December, while the acquired company uses June. Start with the acquired company’s actual record. Review any proposed change under ACRA’s FYE guidance instead of silently replacing the date in the group spreadsheet.
Divide the transition responsibilities
- Who supplies pre-completion books and evidence?
- Who prepares statements spanning the acquisition?
- Who answers earlier tax or regulatory queries?
- Who obtains director approvals and signatures?
- Who files and retains the outcome?
Record both operational owners and contractual obligations under the sale documents. The two should be reconciled, but the seller’s contractual responsibility does not itself submit a filing.
Check access before the deadline approaches
Review authorised access to company records and relevant official services. Complete proper appointment and permission changes. Do not use a departed person’s login as an undocumented workaround.
Give the new advisers a complete file and identify missing documents early. Retain original statements and filings rather than overwriting them with buyer templates.
Resolve gaps with a dated action plan
List each outstanding period, required work, responsible person and actual deadline. Obtain advice where past filings are missing or deadlines have passed.
Keep evidence of corrections and official outcomes. Acquisition completion and compliance handover should have separate completion checks.
Does the purchase restart filing deadlines?
Do not assume so. Review the continuing entity’s actual obligations.
Can the buyer immediately align the FYE?
Assess the applicable change requirements and any deadline restrictions first.
Related compliance resources
See our constitution guide, resolution accuracy checklist and company records reconciliation guide.
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