DATED: 7 APRIL 2020
The Government has announced that as part of their suite of measures to assist Companies during these unprecedented times, Companies who have been affected by the COVID-19 crisis may be eligible for a 3 month extension for filing their accounts with Companies House.
Presently, all companies must file their Company accounts, reports and confirmation statements annually. Companies who fail to submit their accounts to Companies House on time face automatic penalties.
The Government has introduced some practical assistance by way of granting a 3 month extension to a Company’s accounts deadline. This initiative aims to alleviate some pressure on businesses who are prioritising their efforts towards managing the impact of Coronavirus.
Importantly however a Company must apply for an extension before their filing deadline using the following link Apply to Extend Your Accounts Filing Deadline.
If a Company fails to make such an application and subsequently misses their filing deadline the usual automatic penalties will be imposed.
By 28 March 2020 over 10,000 businesses had already successfully applied for the extension, supporting the usefulness of this measure to companies during these difficult times.
For legal guidance on company filings or any other issues your business may be facing, please contact Chris Brightling, Head of Corporate & Commercial.
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