Company accounts filing deadlines
As part of the phased implementation of the Companies Act 2006, the dates by which small limited companies must file their accounts at Companies House are changing. These changes apply to all accounting periods that start on 6 April 2008 or later.
The main change is that the normal filing deadline for years other than the first year is being shortened from 10 months to 9 months.
31 March is a popular year end date with many companies as it coincides with the UK tax year. Companies with this date will now find that their accounts filing deadline is 31 December instead of 31 January, and will need to plan ahead to make sure they are not caught out by Christmas holidays and postal delays.
Currently, a company with an accounting date of 28 February must file its accounts by 28 December, and not 31 December as might be expected. The new rules will allow for month-end dates, so that the same company will now have to file its accounts by 30 November rather than 28 November. This will only apply if the company’s accounting date is the last day of the month - a company with an accounting date of 20 January would still have to file its accounts by 20 October, rather than 31 October. Accounts for an accounting period ending on 29 or 30 May would need to be filed by the last day of February.
If the company’s first accounting period is longer than one year, the latest filing date is 21 months from the date of incorporation, or 3 months from the end of the new accounting period, whichever comes later.
If the accounting period is extended to more than one year and it is not the first accounting period, the latest filing date remains 9 months after the new accounting date.
If the accounting period is shortened to less than one year, the filing date becomes 9 months after the end of the new accounting period, or 3 months after the date the change was made, whichever comes later.
As before, all filing dates given are those by which the accounts must be received by Companies House. It is not enough to post them on the final day, even if proof of posting is obtained.
Filing penalties for late accounts are imposed automatically, and will only be waived in the most exceptional cirumstances, however most accountants know a simple trick for extending the filing date by 3 months.