From 1st February 2009. Being Late Cost More !

If you deliver accounts late by even one day your company company/LLP will incur an automatic Late filing Penalty. The amount of the penalty depends on how late the accounts reach Companies House in an acceptable format.

The main changes to the Late Filing Penalty regime introduced from 1st February 2009 are that:

• All penalties for company/LLP who file more than one month late increase at a faster rate.
• Penalties for companies/LLPs who file more than month late increase at a faster rate.
• Any company/LLP which files late having also filed late in the previous year will attract a double penalt

Double Penalties

In addition where there was a failure to comply with filing requirements in relation to the previous financial year (and the previous year had began on or after 6th April 2008 for companies and 1 October 2008 for LLPs), the penalty will be double that shown in the new table.

14 day concession

Currently when accounts are filed just prior to a filing deadline, but are found to be unacceptable, companies and LLPs get a 14 day concession from the date of rejection to re-submit acceptable accounts without incurring a penalty. Please note that from 1 October 2009 this concession will be removed.