Charlotte Healy writes for Pharmacy Business on late filing of accounts
All companies must send their accounts to Companies House each year. Recent evidence suggests that UK companies are increasingly struggling to file their accounts on time, with around 213,000 private companies reportedly missing their deadline in 2019–2020, resulting in over £93 million of penalties being issued. Over a fifth of companies that filed their accounts late that year had also filed late in the previous year.
In the past, the maximum fine for the offence was £5,000 and prosecutions were relatively rare, however times have changed and at Charles Russell Speechlys LLP, our experience indicates that Companies House are hardening their approach to late filings by pursuing more prosecutions against directors.
Charlotte Healy, Associate, writes for Pharmacy Business on late filing of accounts and what this means for company directors.
Read the full article in Pharmacy Business here.