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Watling and Hirst Limited, Chartered Certified Accountants and Registered Auditors - Chichester, West Sussex > News > Corporate filing deadlines

Corporate filing deadlines

Posted on Wednesday, 03 December 2008 07:53AM by W&H
Following the implementation of the Companies Act 2006 there are two potentially significant changes relating to the filing of private limited company accounts which are now in force:

1. For accounting periods commencing after 6 April 2008, the period in which a private limited company has to file accounts is reduced by one month. This means that the accounts must be filed with the Registrar within 9 months of the accounting year end.

2. The penalties for late filing of accounts have been increased and these changes will come into force for late filings made on or after 1 February 2009. For a private limited company, the penalties in force from 1 February 2009 will be:



 
 Late by
Companies
Act 1985
 Companies
 Act 2006
   
 Within 1 month  £100 £150
 More than 1 month, but less than 3 months £100 £375
 More than 3 months, but not more than 6 months £250 £750
 More than 6 months, but not more than 12 months £500 £1500
 More than 12 months £1000 £1500
   

As an example of the significant impact the new penalties can have, consider a company with an accounting year ended 30 September 2007, which should have filed accounts by 31 July 2008. If these accounts were filed late in January 2009 then the company would suffer a penalty of £250. However, if they were filed on 1 February 2009 then the penalty would be £1,500.

For accounts commencing on or after 6 April 2008, where these are filed late in two consecutive years the penalty is doubled in the second year.

If you have any concerns or queries regarding the changes brought in by the Companies Act 2006, then please contact us.
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