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Companies house ends payment breaks for late filing penalties

New guidance from Companies House has confirmed that it has ended payment breaks for late filing penalties introduced over a year ago to help businesses affected by COVID-19.

This change in policy means that automatic penalties will be issued against private companies, public companies, and limited liability partnerships (LLP) if they file their annual accounts late.

The stay on penalties was one of several temporary measures introduced by Companies House in the last 18 months to help businesses file their accounts without a penalty.

Other measures included a new online service for businesses to upload their accounts direct to Companies House and longer deadline dates.

Much of these measures have now been withdrawn as businesses begin to return to normal trading.

Under this latest change, the level of penalty issued for late filings has also returned to what it originally was before the COVID-19 pandemic.

The size of fines ranges from £150 to £1,500 for a private company or LLP and £750 to £7,500 for a public company and will depend on how late accounts are filed beyond the regular deadline.

Businesses should be aware that if accounts are filed late in two successive financial years the penalty could be doubled.

However, if a company is still struggling Companies House says directors can appeal a fine, with each case dealt with on a case-by-case basis, taking into consideration the impact of the Coronavirus crisis.

If you need help filing your annual accounts with Companies House, please contact our specialist accounting team at enquiries@stca.co.uk or 01494552100 or your usual Seymour Taylor representative today.

This blog is for guidance only, professional advice should be obtained before acting on any information contained herein. The information was correct at the time of publishing 22 September 2021.