Elevated Late Submitting Penalties For Annual Company Accounts

The penalties for the late submitting of annual company accounts rose as of 1 February 2009.

The Corporations Act 2006 offers that each one corporations should ship annual accounts to the Registrar of Corporations by the due date and late submitting penalty will probably be payable if the accounts are delivered late. These penalties have been initially launched in 1992 to encourage administrators of restricted corporations to file their accounts on time as this statutory info is required for the general public file 公司 會計.

The February 2009 modifications embody a rise in penalties usually, a quicker fee of improve within the stage of the penalty for corporations submitting a couple of month late and a doubling of the penalty for anybody submitting late two years in a row. Penalties now run to:

·         £150 for submitting as much as a month late;
·         £375 for 1-Three months late;
·         £750 for Three-6 months late and
·         £1500 for greater than 6 months late.

Flat management and dormant corporations ought to take word that each one of those penalties apply to them in addition to trading corporations.

It’s vital that you just ensure you enable sufficient time on your accounts to be filed inside the interval said within the Corporations Act, so guarantee your data are given to your bookkeeper or accountant to arrange in loads of time, making an allowance for their busy durations. You also needs to remember that penalties is not going to be waived for papers which might be delayed within the put up, so enable ample time and don’t depart it till the final minute to ship your paperwork off.