From today (25 March 2020), businesses will be able to
apply for a 3-month extension for filing their accounts.
This joint initiative between the government and Companies
House will mean businesses can prioritise managing the
impact of Coronavirus.
There are approximately 4.3 million businesses on the
Companies House register, and all companies must submit
their accounts and reports each year. Under normal
circumstances, companies that file accounts late are issued
with an automatic penalty.
As part of the agreed measures, while companies will still
have to apply for the 3-month extension to be granted,
those citing issues around COVID-19will be automatically and
immediately granted an extension. Applications can be made
through a fast-tracked online system which will take just
15 minutes to complete.
Business Secretary said:
We have outlined a business support package on an
unprecedented scale, backing companies and their
employees through these challenging times.
But it is important that our support is not limited to
financial assistance. We are determined to help
businesses in any way we can, so that they can focus all
their efforts on dealing with the impact of Coronavirus,
and this new offer of a 3 month extension for filing
accounts is part of that.
Companies House Chief Executive, Louise Smyth said:
We recognise that these are uncertain times for
businesses and that’s why we’re doing all we can to help.
By easing the burden, we can help businesses through this
period and enable them to thrive in the future. I would
encourage companies who believe they would benefit from
this new flexibility to make an application in good time.
Head of Corporate Governance, Institute of Directors, Roger
Barker said:
These measures will be welcomed by directors impacted
by COVID-19. Our
members will be pleased to see government taking
proactive steps to support them through this difficult
time. By easing the administrative burden that comes with
running a business, the government is supporting
businesses to focus on the fundamentals during this
exceptional period.
The government is also in close consultation with company
representative bodies, legal practitioners and others, to
look at solutions for the impact COVID-19 may have on companies’
ability to hold Annual General Meetings. Updated guidance
on this matter will be published in due course.
Notes to editors
- Companies House is the register of limited companies in
the UK. It incorporates and dissolves limited companies,
registers the information companies are legally required to
supply, and makes that information available to the public
- the application process is quick and easy. Companies
should simply cite COVID-19 or Health matters as the
grounds for their application
-
full guidance on
applying for an extension
- companies that have already extended their filing
deadline, or shortened their accounting reference period
may be ineligible for an extension
- this policy will be kept under review and amended as
necessary in light of the progress of
the COVID-19 pandemic
