Companies House is the UK government’s official register of all companies in the United Kingdom.
If you own or manage a company, it’s essential to understand the importance of filing annual accounts and confirmation statements with Companies House.
Failure to do so can result in penalties and even potential legal consequences.
In this article, we’ll discuss what happens if you’re late filing your accounts, the necessary annual documents, what a confirmation statement is, how to submit it, the consequences of late filing, and your options for appealing against a late filing penalty.
Before we continue. If you need any assistance with filing your overdue company accounts or your confirmation statement, we are here to help.
What Happens if I Am Late Filing My Accounts or My Confirmation Statement with Companies House?
If you file your accounts or confirmation statement late, Companies House will impose financial penalties.
These penalties depend on the length of the delay and the company’s type (private or public).
For private companies, penalties start at £150 for a one-month delay and can reach up to £1,500 for a delay of six months or more.
For public companies, penalties start at £750 and can go up to £7,500.
What Are the Documents I Need to File with Companies House Annually?
As a company director, you need to file the following annual documents with Companies House:
- Annual Accounts: These include a balance sheet, profit and loss statement, and notes to the accounts. They provide a financial snapshot of your company’s performance during the financial year.
- Confirmation Statement: This is a document that confirms your company’s information held by Companies House, such as the company’s registered office address, directors, shareholders, and share capital.
What is a Confirmation Statement and What is it For?
A confirmation statement, previously known as the annual return, is a document filed with Companies House that confirms your company’s details, ensuring that the public register is up to date.
This includes information on the company’s registered office address, directors, shareholders, and share capital.
The confirmation statement must be filed at least once a year, and the due date is typically the anniversary of the company’s incorporation or the last confirmation statement date.
NOTE – You might find this post useful talking about closing a company with debt.
How do I submit my Confirmation Statement to Companies House?
Submitting your confirmation statement can be done online or by post.
To file online, you need to sign up for a Companies House WebFiling account. Once logged in, you can complete and submit the confirmation statement (form CS01).
The filing fee for submitting online is £13.
Alternatively, you can download and fill in the paper version of form CS01 from the Companies House website and send it by post. The filing fee for submitting by post is £40.
NOTE – You might also find this post useful: How To Dissolve a Ltd Company.
What Happens if I Am Late Filing My Accounts to Companies House?
Late filing of your company’s accounts will result in financial penalties, as mentioned earlier.
Additionally, Companies House may strike off your company from the register if you continually fail to file the required documents.
This means your company would be dissolved, and its assets would become the property of the Crown.
NOTE – You might find this post about company director duties useful to read.
Is it Possible to Appeal Against a Late Filing Penalty?
You can appeal against a late filing penalty if you believe you have a valid reason for the delay, such as a natural disaster, serious illness, or unexpected system failure.
To appeal, you need to write a letter to Companies House explaining the circumstances that led to the delay and provide supporting evidence.
Companies House will review your appeal and notify you of the outcome.
However, appeals are rarely successful, and Companies House is strict about what constitutes a valid reason for late filing.
(Check out this link if you want our help with dissolving a limited company).
Final Notes On Late Filing of Accounts for Companies House
Complying with Companies House filing requirements is crucial for maintaining your company’s good standing and avoiding financial penalties.
It’s essential to understand your company’s filing deadlines and ensure that all necessary documents are submitted on time.
If you find yourself in a situation where you’re late filing your accounts or confirmation statement, consider seeking professional advice to help you navigate the process and understand your options for appealing against late filing penalties.
Remember, staying proactive and well-informed about your company’s obligations is the best way to avoid any compliance issues and maintain a positive relationship with Companies House.
Don’t let overdue filings with Companies House impact your company’s reputation and finances.
If you need assistance with filing your accounts or confirmation statement, or if you require guidance on appealing a late filing penalty, reach out to the team at Marchford today on this link.
We can help ensure that your company stays compliant and operates smoothly, allowing you to focus on growing your business.