What happens if I don't file my accounts on time?

It is easy to lose confidence in a company that doesn't meet its legal obligations. If you don't tell Companies House about your company's financial state on time, and you don't send in details of changes, anyone wanting to do business with you will not have access to the most up-to-date information about your company. It could cause trading problems or affect your company's credit rating. It could even stop a potential investor from putting money into your company, or prevent you from getting a loan when you need it.

If your accounts are delivered late, there is an automatic penalty. This is between £150 and £1,500 for a private company and between £750 and £7,500 for a PLC
In addition, directors may be prosecuted for not filing certain documents. If convicted, they will have a criminal record and may be liable for a fine for each offence. In some cases, they could also be disqualified from being a company director or taking part in the management of a company for up to five years.

We are here to help you. Please do not hesitate to call 0844 815 0909 for friendly and professional advice on starting a company.

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