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If you run your own company you will no
doubt be aware that company law requires
all companies to file a copy of their
annual accounts at Companies House by
their ‘due date’. Penalties become
payable if these accounts are filed late.
With effect from 1 February 2009 higher
late filing penalties will be imposed on
those companies that file their accounts
late.
Due date
You may recall that under normal
circumstances a company must file a copy
of its accounts at Companies House within
ten months of its year end.
For accounting periods that begin on or
after 6 April 2008 (that is April 2009
year ends and onwards for most), a new
Companies Act has reduced this period to
within nine months of the year end.
Higher penalties
The higher late filing penalties compared
with those which previously applied are as
follows:
|
Length of delay,
measured from the date the accounts
are due |
Previous Penalty |
Penalty from 1
February 2009 |
|
Private
company |
Public
company |
Private
company |
Public
company |
| Up to 1
month |
£100 |
£500 |
£150 |
£750 |
| 1 to 3
months |
£100 |
£500 |
£375 |
£1,500 |
| 3 to 6
months |
£250 |
£1,000 |
£750 |
£3,000 |
| 6 to 12
months |
£500 |
£2,000 |
£1,500 |
£7,500 |
| Over 12
months |
£1,000 |
£5,000 |
£1,500 |
£7,500 |
For accounts prepared under the new
Companies Act, the penalties will also be
doubled for late filing in two successive
years.
Limited Liability Partnerships
(LLPs)
The shorter filing deadline and higher
penalties also apply to LLPs. However,
the doubling of penalties for the late
filing of accounts in two successive years
will only apply for two successive late
filings of accounts for financial years
that begin on or after 1 October 2008.
Internet link:
Companies House late filing penalties |
