Late Company Accounts: Penalties and the Next Useful Step

Current private-company penalty bands

Companies House currently lists automatic penalties of £150 for accounts up to one month late, £375 for one to three months, £750 for three to six months, and £1,500 for more than six months. The penalty can be doubled when accounts are late in two successive financial years.

Filing remains necessary

A late penalty does not remove the filing obligation. Continuing not to file can create further enforcement risk and may sit alongside an outstanding Company Tax Return or confirmation statement.

Prepare one clear recovery pack

Give the incoming accountant a concise picture of the whole position.

• Company number and every outstanding period
• Companies House and HMRC correspondence
• Previous accounts and tax returns
• Bank statements and bookkeeping records
• Loan, asset and director-balance details
• Any draft work from the previous accountant

Check whether an extension is still possible

Companies House provides a process for applying for more time where an unforeseen event has affected filing, but an application normally needs to be made before the filing deadline. Use the current official guidance for the circumstances and timing.