Companies Act 2006 - Late Filing Penalties
What are the changes being introduced?
- All penalties to be increased to take account of inflation between 1992 and 2007
- A faster rate of increase in penalties for companies who file more than one month late
- A doubling of the penalty for any company which files late having also filed late in the previous year.
What are the new late filing penalties?
The new table of penalties is a follows:
| How late are the accounts delivered | Penalty - Private Company | Penalty - PLC |
| Not more than one month | £150 | £750 |
| More than one month but not more than three months | £375 | £1500 |
| More than three months but not more than six months | £750 | £3000 |
| More than six months | £1500 | £7500 |
In addition where there was a failure to comply with filing requirements in relation to the previous financial year (and that the previous financial year had begun on or after 6th April 2008), the penalty will be double that shown in the table.
When do these new penalties apply?
The new penalties will apply from 1st February 2009.
If my accounts are/were already overdue before the 1 February 2009 will the new penalties apply to me?
Regardless of when your accounts became overdue, from the 1st February 2009 the new penalties apply to all accounts delivered late.
