Companies House has updated the guidance on the assessment of penalty appeals made by businesses regarding the late filing of accounts.
The changes, which are due to come into effect on 1 October, are presented in a revised manual for late filing penalties.
Companies House state that the current rejection rate for online filings is just 0.5 per cent, while the rate of rejection for accounts that file paper documents stands at 6 per cent.
According to Companies House, they will not be exercising discretion where accounts have been rejected in ample time but they have not been received by either the company or the presenter of the accounts.
The reasoning for this is that the individual or company that files the accounts is responsible for ensuring that documents are delivered for registration in an acceptable electronic or paper format.
The new rules mean that the processing time for paper documents has been extended, from five days to eight days, with Companies House saying that this reflects their internal processing targets for paper documents more accurately.
This rule change means that if Companies House takes longer than eight working days to reject paper accounts, it could decide not to collect any penalty that arises as a result of this.
They are also encouraging firms to file their accounts online, stating that it is quicker and lowers the risk of being penalised.