If you don’t keep on top of your paperwork, the fines can soon rack up.
Late Filing Penalties exist which are designed to encourage companies to file their accounts and reports on time. The penalties were first introduced in 1992 and were significantly increased from February 2009.
According to Companies House, all companies, private and public, large or small, trading or non-trading must send their accounts to Companies House.
The table of penalties for late submission is below, so make sure you don’t fall into the trap of filing late and being faced with a fine!
|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, and which could see directors personally fined in the criminal courts.