Late Filing Penalties For Limited Company

Late Filing Penalties For Limited Company
All limited companies are obliged to file accounting and other information with Companies House and HM Revenue and Customs (HMRC) each year.

 Accounts submission deadlines: 
  • If you are filing of company accounts with Companies House for the first time, you will have up to 21 months from the incorporation date (or 3 months following the accounting reference date if this is longer) to do so.
  • In subsequent years, a private limited company has 9 months from the end of the accounting reference period in which to deliver its accounts. A public company has 6 months. However, if you change the accounting reference period the filing time may be reduced.
Penalties for Late Filing of Accounts for Companies House:

If the accounts are late a penalty is automatically imposed. The level of the penalty depends on how late the accounts reach Companies House and is shown in the following table.

Length of period (measured from the date the accounts are due)

Penalty

Penalty

Private company

Public company

Not more than 1 month

£150

£750

More than 1 month but not more than 3 months

£375

£1,500

More than 3 months but not more than 6 months

£750

£3,000

More than 6 months

£1,500

£7,500

 

The penalties will be doubled if a company files its accounts late in 2 successive financial years.

Late Filing Penalties for Other Documents:
  • If you change your company’s Articles of Association, you are obliged to notify Companies House within 15 days. Failure to do so would result in a civil penalty of £200 since 1st October 2009.
  • The company is also responsible for submitting the company’s Annual Return (AR01) on time each year – typically within 28 days of the anniversary of the incorporation date. Failure to do so could result in a fine of up to £5,000, and the directors could even be prosecuted.
Late Filing of Company Tax Return to HMRC:

The late filing penalties of the company tax return will be as follows:

 Time after the deadline  Penalty
 1 day late  £100
 3 months late  Another £100
 6 months late  HMRC will estimate your company’s tax bill and  add a penalty of 10% the unpaid tax
 12 months late  Another 10% of any unpaid tax

 

If your returns are late 3 times in a row, the £100 penalties are increased to £500 each.

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