UK Services
Annual Report Filing
In the UK, companies must submit yearly financial records to Companies House, which include a balance sheet, profit and loss statement, and a director’s report. These documents must be filed within nine months after the company’s financial year ends. If companies miss the deadline, they may face fines.
All UK companies must prepare these accounts each year to show their financial activity and calculate how much Corporation Tax they owe to HMRC.
Company directors are responsible for ensuring these accounts are completed accurately and submitted on time. If a company’s income is above a certain level, an independent auditor must review and confirm the accuracy of the financial statements.
Filing accurate and timely accounts is crucial, as it affects the company’s credit rating and reputation.
Late Filing Penalties
Private Companies
Public Companies
Partnership Companies
About Late Filing Penalties
- Late filing penalties were introduced in 1992 to make sure company directors submit their accounts and reports on time, as this information is needed for public records.
- Every company, whether private or public, big or small, trading or not trading, must send their accounts and reports to Companies House each year.
- If you file your accounts late, you will automatically be fined. The time you have to submit your accounts depends on whether they are your first accounts since starting the company or follow-up accounts.
Length of period (Measured From The Date The Accounts Are Due)
Not more than 1 month
More than 1 month but not more than 3 months
More than 3 months but not more than 6 months
More than 6 months
Penalty For A Private Company Or LLP
£150
£375
£750
£1,500
Penalty For A Public Company
£750
£1,500
£3,000
£7,500
