Notice of change of registered office (Form 287)
All the directors of the company could be prosecuted. Failure to
deliver documents on time is a criminal offence. On conviction, a
director could end up with a criminal record and a fine of up to £5,000
for each offence. Alternatively, if the Registrar believes that the
company is no longer carrying on business or in operation, he could
strike it off the register and dissolve it. If this happens all the
assets of the company, including its bank account and property,
generally become the property of the Crown.
Are directors really prosecuted?
Yes. On average more than 1,000 directors are prosecuted each year for
failing to deliver accounts and returns to the Registrar on time.
Persistent failure to deliver statutory documents on time may also lead
to a director being disqualified from taking part in the management of a
company, for a specified period.
What happens if accounts are
delivered late?
As a director of a private limited company, you normally have a maximum
of 10 months from the accounting reference date in which to deliver your
company's accounts to the Registrar. The accounting reference date is
the date to which your accounts must be prepared. As a director of a
public limited company, you normally have a maximum of 7 months from the
accounting reference date in which to deliver your company's accounts to
the Registrar.
Important
If your company's first accounts cover a period of more than 12 months,
they must reach Companies House within 22 months of the date of
incorporation for private companies and 19 months for public companies.
If accounts are received late, the company will automatically be charged
a 'late filing penalty'. These penalties can be in addition to any fine
imposed by a court. The late filing penalty will be calculated according
to the following scale:
| Length of delay |
Private Company |
Public Company |
| 3 months or less |
£ 100 |
£ 500 |
| 3 months one day to 6 months
|
£ 250 |
£1000 |
| 6 months one day to 12 months
|
£ 500 |
£2000 |
| More than 12 months |
£1000 |
£5000 |
How can prosecution and penalties be avoided?
Make sure your company complies on time with all its filing obligations,
not only in connection with its accounts and annual returns, but in
connection with all other documents required under the Act.
Isn't my accountant supposed to do all this?
Your accountant's responsibilities depend on the agreement you have with
him or her. However, the responsibility to deliver accounts and other
statutory documents rests entirely with the directors. Ensure that your
accountants have all the necessary information to prepare your accounts
and get them audited on time. If necessary, chase your accountants.
Don't just assume they are getting on with the job.
Why does Companies House need this information?
In exchange for the benefits of trading with limited liability,
companies must deliver certain information about themselves to the
Registrar. He must then make this information available for inspection
by the public so that they can make informed decisions about companies
that they may wish to invest in or do business with.
