Company late filing penalties increasing from 1 February 2009

Small limited companies are required to file a copy of their accounts each year with Companies House. If you file even one day past the filing deadline you will be penalised. The new late filing penalties which will be levied from 1 February 2009 are increasing dramatically! The new fines for private companies are:

  • Not more than 1 month – £150 (presently £100)
  • More than 1 month but not more than 3 months – £375 (presently £100)
  • More than 3 months but not more than 6 months – £750 (presently £250)
  • More than 6 months – £1,500 (presently £500 between 6 to 12 months, £1,000 over one year)

The new fines for public companies are:

  • Not more than 1 month – £750 (presently £500)
  • More than 1 month but not more than 3 months – £1,500 (presently £500)
  • More than 3 months but not more than 6 months – £3,000 (presently £1,000)
  • More than 6 months – £7,500 (presently £2,000 between 6 to 12 months, £5,000 over one year)

Additionally if you were late filing in the previous year (and the previous financial year had begun on or after 6 April 2008) the above fines are doubled.The new fines also apply to flat management and dormant companies.The message is clear. If you are responsible for the management of a limited company make sure you give yourself plenty of time to prepare and file accounts on time.

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