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Penalties for late filing to HMRC and Companies House

Penalties for late filing to HMRC and Companies House
What happens if I file my Corporation Tax or Company House Accounts after the due date?

What are the rules?

At the end of each year, as a limited company you are required to submit an abridged set of accounts to Companies House. You must also submit a CT600 and set of statutory accounts to HMRC.

The accounts for HMRC are required to have an income statement (profit and loss) and a balance sheet. Companies House just require a balance sheet, balance sheet notes and statutory declaration.

The accounts submitted to Companies House are visible on the company register. You can search for your company on the Companies House website and check your companies filing history and other details.

You have 9 months from the end of you accounting period to file your Company accounts to Companies House.

You have 12 months to file your CT600 and accounts to HMRC. However, any corporation tax that is due, must be paid to HMRC by 9 months and a day after the end of you accounting period.

If this is your first year of trading, please see our guidance on what you need to do at the end of your First Year, to help you prepare in advance and avoid any late filing penalties.

Penalties for late filing to Companies House

If you are late filing your annual accounts to Companies House, then the following penalties will be applied:

Up to 1 month £150
Up to 1 - 3 months £375
Up to 3 - 6 months £550
More than 6 months £1,500

Penalties will be doubled if you file your accounts late 2 years in a row.

You will automatically receive a penalty notice if you file after your filing deadline. Your company maybe struck of the Companies House register if you do not file your accounts or confirmation statement.

If you have have a good reason for filing late you can appeal your penalty in writing.

Penalties for filing late to HMRC

If you are also late filing your CT600 and accounts to HMRC, you will also receive penalties from them in addition to the penalties from Companies House. The penalties for late filing to HMRC are as follows:

1 day £100
3 months Another £100
6 months HMRC will estimate your Corporation tax bill and add a 10% penalty
More than 6 months Another 10% of any unpaid tax

If your tax return is late 3 times in a row, then the £100 fines are increased to £500.

If you still haven't filed your tax return after 6 months, HMRC will write to you telling you how much tax they think you should pay. This is called tax determination. You cannot appeal this notice.

Filing late to both HMRC and Companies House, even by just a day can result in your company receiving penalty notice of £250. See our other knowledged based articles, to help you avoid any penalties.

This article is information only and has been prepared for general guidance on matters of interest only, and does not constitute legal, accounting, tax, investment or other professional advice or services. You should not act upon the information contained in this article without obtaining specific professional or legal advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this article, and, to the extent permitted by law, Comdal Limited, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

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