Late Filing Penalties Explained - Company Formation - UK Registration Services
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There is a requirement for all companies whatever their format (i.e PLCs, companies limited by shares and guarantee, unlimited companies and so on) to submit their accounts to Companies House by certain due dates.
Failure to meet these submission deadlines will result in standard penalties being imposed by the Registrar of Companies. It is therefore advisable to be aware of the various reporting dates and to ensure that all due dates are met. 1. Why have Late filing fines? These penalties were brought in 1992 to provide impetus to the company officers to adhere to the filing requirements of Companies House. 2. What are the penalties? There is a sliding scale of fines which increase with the length of time that the company's accounts are late: For private limited companies these are follows: less than 3 mths £100 greater than 3 mths less than 6 mths £250 greater than 6 mths less than 12 mths £500 greater than 12 mths £1,000 For public limited companies these are follows: less than 3 mths £500 greater than 3 mths less than 6 mths £1000 greater than 6 mths less than 12 mths £2000 greater than 12 mths £5000 3. Company accounts filing deadlines Private limited companies generally have 10 months from the date of the end of their accounting period to prepare and submit accounts. Public limited companies have a shorter time limit of 7 months. Further News and Articles 1. Forming A Company Just Became Easier2. Statutory Requirements For New Companies
3. Non Profit Organisations
4. Company Directors and Secretaries
5. Annual Returns6. Accounts and Accounting Reference Dates
7. Company Auditors
8. Share Capital and Prospectuses
9. Late Filing Penalties
10. The Costs and Benefits of Company Registration
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