There are late filing penalties that are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must file their accounts at Companies House.
The late filing penalties guide has recently been updated although there have been no changes to the penalty amounts. The table of penalties for late submission is as follows:
|How late are the accounts delivered||Penalty – Private Company||Penalty – PLC|
|Not more than one month||£150||£750|
|More than one month but not more than three months||£375||£1,500|
|More than three months but not more than six months||£750||£3,000|
|More than six months||£1,500||£7,500|
There is also an online service available to appeal a late filing penalty, but applicants must be able to show that the reasons for filing late were exceptional. The registrar has very limited discretion to cancel a penalty. For example, if the company director or accountant experienced an unexpected illness, including coronavirus this may be an acceptable reason to appeal a late filing penalty.
The updated guidance confirms that Companies House is taking longer than usual to respond to appeals. The guidance includes assurances that Companies House will suspend all recovery action until an appeal has been considered. A full reply will be sent by Companies House in due course.
MJB Avanti | 08000 388799