Company Registration Name: Late Filing Penalties

These are the guidelines that will help you to keep away from the late filing penalty. The guidance will be applicable for both public and private companies registered in United Kingdom, that is in England, Scotland, Wales and Northern Ireland.. A late filing penalty is imposed under a situation when the accounts are not filed within the filing deadline. Here the advice has also been provided, which will tell you that how you can appeal on account of the filing penalty has been imposed already. This overview will try to answer your queries related to the late filing penalty.

What is meant by late filing penalties?

This is a penalty for late filing introduced in the year 1992 for encouraging the company directors to file their accounts within the stipulated time. It is a must that the accounts and reports of all the companies irrespective of size and scope should reach the Company House every year and if it happens to be late then a penalty is been levied automatically by law.

How the late filing penalties can be avoided?

Just have patience and allow the accounts to reach Companies House within the stipulated time period. Sometimes, it might be the case that the deadline tend to get expired on a Bank holiday or on a Sunday, don’t feel opportune if you come across such an instance as the due date for filing the accounts still remain valid under law. Hence be wise and look for a guaranteed way ensuring your account arriving on time specially if the deadline for filing your accounts is nearby.

Few Tips for ensuring the delivery on time:

-Mark your calendar or diary with the time of the deadline(s) for the filing.
-Make a point to go through the reminders forwarded by the registered office.
-Give reminder to the accountants in good time so that they get adequate time to prepare the accounts and deliver the accounts on time.

How to deliver the accounts to Companies House?

The addresses of the information centers of the Companies House is available on the website along with the street map and the travel information. One can even deliver the accounts through the online services. The detailed account on the registration process is available on the website.

Can the time for delivering the accounts be extended?

All necessary measures need to be taken to file the accounts on time. However there can always be a reason, which tend to make you late in filing the account. In that case an application needs to be made for extending the time allowed by the Companies House for filing.

What should be done if the Companies House will reject the accounts as incorrect?

Until the accounts meet the prescribed requirements of the Companies Act then it will be returned for amendments. Again if the corrected account will be filed late then also the penalty will be levied. This situation can be avoided if the accounts will be delivered the moment they are complete. It is better if they are delivered in advance of the last delivery date.

How do I pay the penalty?

The information on how you need to pay the penalty comes with the penalty notice.

What happens if I do not pay the penalty?

If the penalty levied is not paid then the debt collectors take the necessary actions and the final decision is taken in the County Court or Sheriff Court and the company is given a chance to file a defence suite. In that case get the advice of a professional.