Don’t file your accounts late – the fines are steep and difficult to appeal
Author: Russell SmithNovember 10, 2015
Many people are scared of HMRC but actually Companies House are the ones you need to fear!
The Companies House fines are way worse than what most tax fines you will get from HMRC.
If you submit your year end accounts late to Companies House you will receive the following fines:
Overdue – £150
1 to 3 months – £375
3 to 6 months – £750
More than 6 months – £1,500
Worse still, if the accounts are overdue twice the the fines are doubled.
If you have received a fine, the chances of appeal are slim.
The % chance of getting a fined overturned is 3.7%.
Unlike HMRC fines, there’s no tribunal to which you can appeal, even if you think you have a good reason for filing late. The law says a penalty is due in every case. The only way to get out of a fine, is to appeal to Companies House to use it’s discretion not to collect the penalty.