Every year, all private and public limited companies must deliver accounts to Companies House. Remember you have to file irrespective of whether or not you have been trading.
When do you file your accounts?
Accounts are normally filed at Companies House within a specified time after the Company’s accounting reference date.
The first accounts for a limited company, have their own special rules. These normally have to be filed no later than 18 months after the incorporation of the company.
Subsequent accounts then have to be lodged before 9 months after the accounting reference date. If you need to check these dates, then check out your company at Companies House.
Late Filing Penalties
Less than 1 month £150
Between 1 & 3 months £375
Between 3 & 6 months £750
Later than 6 months £1,500
Penalties may be doubled if accounts are lodged late in two successive years.
How to avoid a Late Filing Penalty
File early, not only does this get it out of the way, but if the accounts are rejected, you have time to rectify the issue and resubmit. File online, this means that you know for definite that your accounts have been delivered, as you will receive a submission receipt.
Remember it is the Director’s responsibility to ensure that accounts are filed. Failure to do so could leave Directors at risk of a criminal record, a fine and disqualification.