Following their consultation last year, Companies House are increasing the penalties for filing accounts late. This is to encourage more companies to file on time.
The new penalties will apply to accounts filed late after 1 February 2009.
The following table summarises the new position.
Note, in particular, that under these new rules penalties will accrue if accounts are 1 month late rather than 3 months late as under the current regime.
In addition, the penalties have substantially increased and there are double penalties for companies that file accounts prepared under the CA06 regime late for two consecutive years.
| Length of period | Private company | Private company - If previous financial year began after 6 April 2008 (under CA06) and failure to comply in previous year | Public company | Public company - If previous financial year began after 6 April 2008 (under CA06) and failure to comply in previous year |
| Not more than 1 month | £150 | £300 | £750 | £1,500 |
| More than 1 month but not more than 3 months | £375 | £750 | £1,500 | £3,000 |
| More than 3 months but not more than 6 months | £750 | £1,500 | £3,000 | £6,000 |
| More than 6 months | £1,500 | £3,000 | £7,500 | £15,000 |
Answers to common questions about late filing penalties.
For more information see The Companies (Late Filing Penalties) and Limited Liability Partnership (Filing Periods and Late Filing Penalties) Regulations 2008
For help with preparing your accounts contact Jordans Accounting Services
