Will you be unable to file your accounts on time?

Further to our previous emails, Companies House have issued some guidance for companies regarding accounts filing deadlines.

If it becomes apparent, immediately before the filing deadline, that accounts will not be filed on time due to the company being effected by Coronavirus, it is possible to make an application to extend the filing deadline. The extension, which is a joint initiative between the Government and Companies House, is for three months ( two months for listed companies) and should be granted automatically to those citing COVID-19 as the reason.

Companies House have asked that companies should act before the deadline and not wait until the accounts are already late. If you do not apply for an extension and your accounts are filed late, an automatic penalty will be imposed.

Applications to extend the deadline can be made through a fast tracked online system and take about 15 minutes to complete.

It is worth remembering that accounts filing deadlines are 9 months after the company year end. Any company with a year end dated after 30th June 2019 may need to consider this extension if they believe they cannot meet their deadline, although Companies House are stressing that the original deadline should be met where possible.

Should you require further clarification on the above, or any other matter, please contact your Fairhurst partner.