How to avoid a Late Filing Penalty

If your company’s financial year end was 31st March 2018, don’t forget that your accounts need to be submitted to Companies House (CH) by no later than 31st December 2018. If you don’t make the deadline, there’s a fine of £150 which rises to £375 if they’re over one month late (but less than three months). These fines double if you file late two years in a row.

Can you appeal against a penalty?

It’s virtually impossible to get a late filing penalty overturned. If you don’t think you will be able to file on time due to unforeseen events, you can write to CH to request an extension to the filing deadline, but CH must receive this before the filing deadline.

Tip: You could also apply to shorten the accounting period by one day to 30th March 2018. Due to special provisions in s.442 Companies Act 2006, this gives you three months from the date of the change to file and you can still make up accounts to 31st March 2018 as it’s within seven days of the period end.

To summarize, if you’ve have a March year end, don’t forget that your accounts need to be filed by 31st December 2018.
If you think you might be late, shorten the company’s year end by a day to give yourself up to an extra three months to file.

For more information, we provide a Business Consultation to ensure our clients benefits from tax planning and accounting matters.

Companies999 are Chartered Certified Accountants and Birmingham’s Best Company Formation Agent.

For any assistance contact Companies999, we will be happy to help you!

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