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Did you know that if you are late in filing your company accounts, and you don’t reply to warnings from Companies House, your company could be struck-off the Companies House register and cease to exist within just a few short months?
Creditsafe reports indicate that Companies House is giving only two months after the year end filing date before putting in an active proposal for the company to be struck off. This short amount of time doesn’t leave much leeway for you to lose your company name.
If the Companies Registrar sends at least two formal letters (14 days apart) to the company and doesn’t receive a reply to either letter, they can publish a notice to inform the world that the company will be struck off two months from the date of that notice. This whole process takes only four months in total. It used to take longer, but the system changed in 2015 under the Small Business, Enterprise and Employment Act.
If your year end is 31 March, you should file your accounts by 31 December. if you don’t, Companies House will send three reminders during January and February. if they don’t receive a reply, the notice to strike off your company will be issued on 2 March, with a ‘commencement date’ for the notice as: 8 March.
HMRC generally objects to the notice and tries to prevent the company from being struck-off if tax is due, or likely to be due. This is because HMRC can’t recover any tax due from a company that has been struck-off, as then it has no longer exists. This procedure aims to prevent unscrupulous people from trading through a UK company then allowing that company be struck off by ignoring Company House letters. But now, it looks as though HMRC may not have enough time to issue its objection before a company is struck-off.
The bottom line is that, when your accounts are due, you must make sure they’re filed on time. We ensure our clients avoid fines and penalties – and we certainly wouldn’t want to see anyone lose their business because they’ve been tardy with their admin. Let us help you to stay on top – give us a call on 020 8530 0720 to discuss safeguarding your business against Companies House strike-offs. Or email us at firstname.lastname@example.org.
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In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier, the difficult part was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). They follow the bye-laws, regulations and ethical guidelines of the ACCA and we are an ACCA accredited employer. We are also accredited by Professional Passport for our Umbrella and accountancy services.
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