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Penalties for late filing of company accounts

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There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must send their accounts to Companies House. A penalty is automatically imposed by Companies House if the accounts are late.

The table of penalties for late submission is as follows:

How late are the accounts delivered

 Penalty – Private Company

Penalty – PLC

Not more than one month

£150

£750

More than one month but not more than three months

£375

£1,500

More than three months but not more than six months

£750

£3,000

More than six months

£1,500

£7,500

Failure to file confirmation statements or accounts is a criminal offence which could result in the directors being personally fined in the criminal courts. Late penalties which are unpaid will be referred to collection agents and could result in a County Court judgement or a Sheriff Court decree against the company.

It is possible to appeal against a penalty, but it will only be successful if the appellant is able to demonstrate that the circumstances of the late filing were exceptional, for example, a fire destroying records a few days before the filing deadline.

According to Companies House guidance, an appeal is unlikely to be successful if it’s based on the following examples:

  • your company is dormant
  • you cannot afford to pay
  • your accountant was ill
  • you relied on your accountant
  • these are your first accounts
  • you are not familiar with the filing requirements
  • your company or its directors have financial difficulties (including bankruptcy)
  • your accounts were delayed or lost in the post
  • the directors or LLP members live (or were travelling) overseas
  • another director or LLP member is responsible for preparing the accounts.
Source:Companies House | 02-09-2024