Beware! Companies House fines are expensive

August 21, 2012

If you are a director of a limited company you need to be submitting your year end accounts to Companies House by 9 months after your year end. 

I believe that accounts should be completed within 3 months of the year end so that you know your tax bill and understand your numbers but if you are anywhere near the 9 month mark you need to be aware of the potential fines for submitting late.

It used to be £100 fine but in the 2006 Companies Act, the fines got boosted to:

£150 if you are late

£375 if you are late by more than 1 month

£750 if you are late by more than 3 months

£1,500 if you are late by more than 6 months.

So you can see, it is very expensive not to get the accounts in on time. 

It gets worse though.  If you are late for a second successive year, the fines are DOUBLED.

Make sure you know when your accounts are going to be completed.

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