What are late filing penalties?
Late filing penalties were introduced in 1992 to encourage directors of limited companies to file their accounts on time because they must provide this statutory information for the public record. Section 242A of the Companies Act 1985 says that penalties will be imposed on any company that delivers its accounts to Companies House after the period allowed for filing. ('Statutory' means by law.)
BACK TO COMPANY REGISTRATION GUIDANCE
Source:
http://www.companieshouse.gov.uk/about/gbhtml/gba5.shtml#one
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