What happens if company is late filing accounts?

All companies must send their accounts, reports and confirmation statements to Companies House every year. If a company’s accounts are filed late, the law imposes an automatic penalty. Your company should take appropriate measures to ensure accounts are filed on time. You should also file your accounts online if you’re able to.

What happens if you miss the deadline for a limited company account?

If you miss the deadline for delivering your limited company accounts to Companies House, a late filing penalty will be automatically imposed, even if your company is dormant. Fines will continue to escalate until the overdue annual accounts are submitted.

Can a company house waive a late filing penalty?

Fines will continue to escalate until the overdue annual accounts are submitted. Whilst it is possible to appeal against a late filing penalty, the law grants Companies House very limited discretion; therefore, fees will only be waived in exceptional circumstances.

Do you have to file company accounts on time?

You must file your accounts on time or you’ll receive a late filing penalty. Check your filing deadlines on Companies House service (CHS). The deadlines on CHS are up to date, so you do not need to contact us to find out when your filing deadline is.

What are the consequences of filing company accounts late?

The consequences of filing your company accounts late. Failing to file Annual Returns and Accounts at Companies House on time could result in grave consequences, including personal liability for directors and potential negligence claims against any professionals who do not advise their clients correctly.

How many companies have been fined in UK for late submission of accounts?

It was reported in 2014 by Companies House that more than 165,000 UK companies had filed their accounts late during that year, which resulted in £84m worth of fines being released. No matter whether you are a private or public company, big or small, you have to send your accounts to Companies House ahead of your filing deadline.

Can a company dissolve due to late submission of accounts?

To avoid any liability, company officers (directors/secretary’s) and accountants need to make sure that appropriate steps are taken to comply with company filing obligations. You may be also able to dissolve the company which may release it from any debts levied by companies house.

What happens if a company does not file its accounts on time?

Failing to file Annual Returns and Accounts at Companies House on time could result in grave consequences, including personal liability for directors and potential negligence claims against any professionals who do not advise their clients correctly. Filing accounts is a statutory requirement for all private limited companies in the UK.