The consequences of not filing your company accounts on time

Filing your company accounts on time is one of the most important things when starting your own business. However this can be easily forgotten in the midst of everything else. Our Bolton based Bolton accountants can help file your accounts to take the pressure off you.

Accounts need to be filed with Companies House within nine months of the end of the accounting period. You’ll have to pay penalties if you don’t file your accounts by this deadline. The penalty is £150 for accounts up to a month late, rising to £1,500 for accounts which are over six months late.

When accounts are not filed on time there can be other adverse effects for example on credit rating or the commercial image of the company.

The company’s Corporation Tax return must be filed with HMRC within twelve months of the end of the accounting period and any Corporation Tax due must be paid within nine months. This means most companies have their returns prepared within nine months in order to know their tax liability. If companies fail to file on time, the initial penalty is £100 and increases with time.

It’s a bad idea to leave matters until the last minute. For example, if bonuses have accrued, to be eligible for tax relief they must be paid within nine months of the end of the accounting period and completing computations at the last minute could lead to additional Corporation Tax and cash-flow problems.

Whilst companies should complete their accounts in good time, they can of course choose not to file them until the deadline where they contain commercially sensitive information.

Regular late filing may cause concern with HMRC and increase the likelihood of an enquiry. It’s important, therefore, to file on time with all the relevant authorities.

For more advice about filing your company accounts in time, click here to contact us and our Bolton accountants will be on hand to help.


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

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