Filing Deadline Changes Company Accounts

The Companies Act 2006 has changed the dates by which small limited companies must file their accounts at Companies House. These changes apply to all accounting periods that start on 6 April 2008 or later.

The normal filing deadline for years other than the first year is being shortened from 10 months to 9 months.

Therefore a company with a 31 March year end will now find that their accounts filing deadline is 31 December instead of 31 January and will need to plan ahead to make sure they are not caught out by Christmas post and holidays.

A company with an accounting date of 28 February must file its accounts by 28 December under the old rules and not 31 December as might be expected. The new rules will allow for month-end dates, so that the same company will now have to file its accounts by 30 November rather than 28 November. This will only apply if the company’s accounting date is the last day of the month - a company with an accounting date of 20 January would still have to file its accounts by 20 October, rather than 31 October.

If the company’s first accounting period is longer than one year, the latest filing date is 21 months from the date of incorporation, or 3 months from the end of the new accounting period, whichever comes later.

If the accounting period is extended to more than one year and it is not the first accounting period, the latest filing date remains 9 months after the new accounting date.

If the accounting period is shortened to less than one year, the filing date becomes 9 months after the end of the new accounting period, or 3 months after the date the change was made, whichever comes later.

As before, all filing dates given are those by which the accounts must be received by Companies House. It is not enough to post them on the final day, even if proof of posting is obtained.

Ward Goodman offers an on-line filing service for Abbreviated accounts so that the risk of filing your accounts late is reduced significantly.

It is important that company accounts are not filed late as the penalty regime is more severe.

Companies House - late accounts and penalties

Late filing penalties for accounts and reports which are filed after 1 February 2009 are:
(Pr C = Private Company Pu C = Public Company)

• Not more than 1 month £150 Pr C £750 Pu C
  
• More than 1 month but not more than 3 months £375 Pr C £1,500 Pu C
  
• More than 3 months but not more than 6 months £750 Pr C £3,000 Pu C
  
• More than 6 months £1,500 Pr C £7,500 Pu C
  

These penalties are doubled if accounts (for financial years beginning on or after 6 April 2008) are filed late in two successive years.

Failing to deliver annual accounts, annual returns (form 363A ) and other documents on time is also a criminal offence for which company directors may be prosecuted. Persistent late filing of the annual accounts or returns may also lead to the company being removed from the register

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Ward Goodman please contact 01202 875900