Amidst the festivities it is important to check when your annual accounts filing deadline is. Failure to file your annual accounts on time is a criminal offence and could result in fines for both your company and its directors.
Many companies have a deadline of 31 December to file their annual accounts and the consequences of missing the deadline can be severe. Not only will your company’s directors be guilty of an offence, punishable by a potentially unlimited fine, but your company could also face increasing daily fines, and may ultimately be struck off the register.
Companies House reported that, last December, 503 companies filed within an hour of the midnight deadline, with 28,874 companies entirely missing the due date.
Given the possible repercussions, this should be avoided at all costs.
Here is a list of our need-to-know tips on getting your company’s accounts into the new year safe and sound:
1. Finding out your filing deadline
You can check the due date for your next set of accounts by logging in to the Companies House WebFiling service or searching for your company on the Companies House website.
2. Filing your annual accounts
The simplest way to file your annual accounts is to create an account with the Companies House WebFiling service. Alternatively, you can also use a software provider compatible with Companies House, or in some circumstances, a paper form.
3. Making mistakes
If your filing does not contain all the relevant information, you risk it being rejected by Companies House. Crucially, the original deadline still applies and it is therefore important to file your annual accounts early to build in time to correct any mistakes.
Visit www.sparqa.com for further guidance about filing your annual accounts.
Sparqa also provides comprehensive guidance on other company filings, as well as directors’ duties and administrative tasks.