Limited companies urged to file accounts ahead of September deadline

Limited companies due to file accounts with Companies House by the end of September are being urged to allow plenty of time before the deadline.

All limited companies, including dormant companies that are not trading, must deliver annual accounts to Companies House each year.

Even if an accountant files of behalf of a business, it remains the responsibility of the company’s directors to ensure accounts are filed on time. Missing a filing deadline can affect a business’ ability to access financing, as well incur financial penalties and legal consequences for directors, including criminal records, fines and disqualification from running a company.

Businesses can file online or by paper with Companies House directly, or through their accounting packages, which is the preferred method of 65% of limited companies. The Economic Crime and Corporate Transparency Bill, currently awaiting Royal Assent, will require businesses to only file through software packages.

Companies should only send paper accounts if they cannot file online or by software – as they must also be manually checked and can take over a week to process, plenty of time ahead of the deadline should be allowed to ensure any corrections can be made if they are rejected.

Companies House allows businesses to register for email reminders to ensure directors know when accounts are due. They also have a number of YouTube videos available that provide guidance on how to use online services.