Companies urged to file accounts early and online to avoid penalties
Running your own company can be exciting but also challenging. Directors have lots of responsibilities including keeping company records up-to-date and making sure they’re filed on time.
All limited companies, whether they trade or not, must deliver annual accounts to Companies House (CH) each year. This includes dormant companies.
If we do not file your accounts then you can use CH online services which are available 24 hours a day, 7 days a week - and there are inbuilt checks to help you avoid mistakes.
It can take as little as 15 minutes from start to finish and you’ll know your accounts have been delivered on time. To file online, you’ll need your company authentication code. If you need to request a new code, you should allow up to 5 days for this to arrive at the company’s registered office.
You should only send paper accounts if your company cannot file online.
See: Filing your Companies House accounts - GOV.UK (www.gov.uk)
A new consultation that proposes loosening the rules on company reporting standards could both benefit companies and give cause for concern.
Directors are being warned to verify their identities with Companies House or risk prosecution after the Insolvency Service secured its first convictions for these offences.