Can I change my Hong Kong company's financial year end, and how?
Yes. The directors pass a resolution specifying a new accounting reference date and stating whether the period is shortened or extended. An extension cannot go beyond 18 months, and repeated extensions within five years need members' approval. Public and guarantee companies must also notify the Registrar within 15 days.
Section 371 of the Companies Ordinance lets directors change the accounting reference date, for the current period or the previous one.
Steps and limits
- Pass a directors' resolution specifying the new date and stating whether the period is shortened (ends the first time the new date falls) or extended (ends the second time it falls).
- An extension must not make the period longer than 18 months.
- You cannot extend if the directors already extended an earlier period that ended within the previous 5 years, unless the new date matches the holding company's year end or the members approve by resolution.
- You cannot change the date for the previous period if the deadline for laying or sending its accounts has already passed.
- Public companies and companies limited by guarantee must deliver a notice of the new date to the Registrar within 15 days. Private companies limited by shares are not required by s.371 to notify the Registrar.
If a period is shortened, the accounts deadline is the later of the normal deadline and 3 months after the directors' resolution (s.431(2)).
Tell your auditor and tax adviser before resolving, because changing the period affects audit scope and tax filings.
Legal basis
- Companies Ordinance (Cap. 622), ss.371, 431
Sources
Applies to 2026 · Last reviewed 29 October 2026
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
Related questions
- Is a Hong Kong company legally required to keep accounting records?Yes. Section 373 of the Companies Ordinance (Cap. 622) requires every company to keep accounting records that explain its transactions and show its financial position and performance at any time. Directors who fail to take all reasonable steps risk a fine of HK$300,000, and up to 12 months' jail if the failure is wilful.
- How long must a Hong Kong company keep its accounting records?Seven years. Under section 377 of the Companies Ordinance, a company must keep its accounting records for 7 years after the end of the financial year to which the last entry relates. The Inland Revenue Department separately requires business records to be kept at least 7 years after the transactions they relate to.
- What does section 51C of the Inland Revenue Ordinance require from my business?Anyone carrying on a trade, profession or business in Hong Kong must keep enough records, in English or Chinese, to work out assessable profits, and keep them for at least 7 years. Failing to do so without reasonable excuse can lead to a fine of up to HK$100,000.
- Which documents should a Hong Kong business keep for its books?Keep every document that supports an entry in your books: sales and purchase invoices, receipts, bank statements, contracts, payroll and MPF records, asset purchase papers, loan agreements, and stocktake sheets. The test is whether someone else could trace any figure back to its source.
- Can a Hong Kong company keep its accounting records digitally or scan paper originals?Yes. The Companies Ordinance allows records in hard copy or electronic form, provided they stay available for reference and can be reproduced on paper. The IRD also accepts electronic books and scanned source documents if integrity, legibility and origin details are preserved, and no prior approval is needed.