Accounts and Late Filing Penalties

The Companies Act 2006 has seen a reduction in the time allowed for companies to file accounts. Before the act was introduced companies were allowed ten months to file their accounts at Companies House. This has been reduced to nine months.

For example

If your company has a filing reference date of Mach 2009 then previously your accounts would have been due to be filed in January 2010. Now your accounts will need to be filed in December 2009.

The penalties for late filing of accounts have also been increased and will be applied to companies that are now filing accounts after January 2009.

How late are the accounts? Penalty per Company

Not more than one month £150

More than one month but less than three £375

More than three months but not more than six £750

More than six months £1500

If you are in the unfortunate position that you regularly file accounts late then be prepared for even higher penalties. The penalty is DOUBLED for any company which also filed late the previous year.

It is most unusual for Companies House to waive penalties. Essentially it is a Director’s responsibility to file the company accounts on time. Companies House are not legally required to remind Directors.

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