There are late filing penalties which 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 send their accounts to Companies House. A penalty is automatically imposed by Companies House if the accounts are late.
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 |
Failure to file confirmation statements or accounts is a criminal offence which could result in the directors being personally fined in the criminal courts. Late penalties which are unpaid will be referred to collection agents and could result in a County Court judgement or a Sheriff Court decree against the company.
It is possible to appeal against a penalty, but it will only be successful if the appellant is able to demonstrate that the circumstances of the late filing were exceptional, for example, a fire destroying records a few days before the filing deadline.
According to Companies House guidance, an appeal is unlikely to be successful if it’s based on the following examples:
- your company is dormant
- you cannot afford to pay
- your accountant was ill
- you relied on your accountant
- these are your first accounts
- you are not familiar with the filing requirements
- your company or its directors have financial difficulties (including bankruptcy)
- your accounts were delayed or lost in the post
- the directors or LLP members live (or were travelling) overseas
- another director or LLP member is responsible for preparing the accounts.
by Admin
Share
STAY IN THE LOOP
Subscribe to our free newsletter.
Alternative providers of higher and further education may be able to claim refunds of VAT following a recent Court of Appeal ruling, although the position remains subject to further legal
Cryptoassets can create unexpected tax liabilities. HMRC’s guidance highlights several areas where mistake can be made.
Assuming crypto-to-crypto exchanges are tax-free. Exchanging one type of
HMRC has revealed that it had £42.8 billion in outstanding tax debt at the end of March 2025, equivalent to 5% of total tax receipts. The figures appear in its corporate report, The HMRC tax debt
You may have to pay Income Tax on your pension if your total annual taxable income exceeds your Personal Allowance. This applies whether you receive the State Pension, a workplace pension or a