There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must send their accounts to Companies House. 

The table of penalties for late submission is as follows:

How late are the accounts delivered  Penalty – Private Company Penalty – PLC
Not more than one month £150 £750
More than one month but not more than three months £375 £1,500
More than three months but not more than six months £750 £3,000
More than six months £1,500 £7,500

Failure to file confirmation statements or accounts is a criminal offence which could see the directors personally fined in the criminal courts. Late penalties which are unpaid will be referred to collection agents and could result in a County Court judgement or a Sheriff Court decree against the company.

It is possible to appeal against a penalty, but it will only be successful if the appellant is able to demonstrate that the circumstances of the late filing were exceptional.

Source: New feed