The rate of increase to Late Filing Penalties in 2009 averaged
a whopping 50% but you don't want to go there! Late filing is
unnecessary. If someone is keeping on top of your company's key
dates and filing obligations there is plenty of time to get the
forms and reports filed. But that begs a question… Is someone
really on top of these tasks? Or are you trying to squeeze this
job in among the many things you have to do to bring money in
to your business?
These are the new rates:
Late filing penalties, private companies:
(Penalties for public companies are shown in brackets)
The penalties shown below apply to late filing of accounts on or
after 1 February 2009.
Not more than 1 month late, penalty £150 (£750)
More than 1 month but not more than 3 months late, £375
(£1500)
More than 3 months but not more than 6 months late, £750
(£3000)
More than 6 months late, £1500 (£7500)
If company fails to file on time for two successive years, the
penalties are doubled in the second year.
But there's more…
When your company filing and reports are late that fact is shown
on the Companies House record that anyone can see on the internet.
What does that do for your credibility? If you leave things really
late you may even receive a Proposal to
Strike Off or a Proposed Company
Removal letter - and when these letters are issued a
notice is also published for all the world to see showing that there
is a proposal to stike off your company. What will your customers
and suppliers think if they see you are not in control?
Make sure the job's done properly
If you have suffered a Late Filing Penalty or even if you have
just received warning letters it is time to learn the lesson. Either
you, or the person you have delegated the job to, is not coping.
It is time to review the position and make sure it never happens
to you again. Give the job to someone who has the time and experience
or, better still, save
time money and worries by giving the job to a professional.
Ordered Management take care of the details.
We don't just claim that for ourselves. Our clients tell us we're
reliable. Some of them even wrote to tell us. Read
what they said.
