Last year, over 25,000 companies incurred automatic late filing penalties for missing the September deadline. This statistic is provided by Companies House in preparation for the busy period in September when approximately 300,000 sets of accounts are due by the end of the month.
As the deadline approaches, Companies House offers the following advice to ensure businesses submit their accounts on time:
- Plan early
Be aware of your filing deadline and begin preparations early. Small companies should note that filing abbreviated accounts is no longer an option.
- File online
The majority of companies can submit their accounts electronically, with the help of their accountant. The enhanced digital service offers a faster, easier way to file your accounts promptly.
- Email reminders
Register for email reminders to keep track of your upcoming filing deadline. You can receive these notifications at up to four different email addresses.
- Avoid rejection
The online service from Companies House includes checks to verify that all necessary information is included before submission.
You will receive two emails from Companies House: one confirming receipt of your accounts and another confirming acceptance for filing.
- Paper accounts – allow up to five days
If you must file paper accounts, be aware that these take longer to process. Companies House manually checks paper submissions, which can often take more than a week. Accounts that are incorrect or incomplete will be rejected.
Remember, the deadline refers to filing legally compliant accounts. Submitting incomplete or incorrect accounts on time will still result in late filing penalties.
Always send paper accounts well ahead of your deadline and consider the processing time required by Companies House.
What are the penalties?
Late submission of accounts is a criminal offence and incurs a penalty. The penalty amount depends on the delay of your submission and whether your company is private or public.
– For a private company, the penalty for accounts that are late by less than one month is £150. For public companies, it rises to £750.
– If your accounts are more delayed, penalties can increase to a maximum of £1,500 for private companies and £7,500 for public companies.
If you are concerned about filing late or need assistance with Companies House compliance, please speak to our Company Secretarial team.
