Late filing penalty for limited liability partnership

Late filing penalty for Limited Liability Partnership (LLP) when you deliver your partnership accounts late to Companies House. Even if your accounts were just late by one day.

This late filing penalty is also applied to LLP that is dormant since it’s incorporation. In other words, even if your LLP is dormant you must still submit your dormant LLP accounts.

Usually, Companies House will send you the late filing penalty invoice after your LLP accounts were filed, accepted and published for public record. Consequently, your LLP must pay the late filing penalty unless you intend to appeal against it.

Generally, Companies House would consider your appeal if your circumstance leading to late filing of your accounts was exceptional. Subsequently, they may waive the late filing penalty for your limited liability partnership.

Ordinarily, when comes to assessing what is exceptional circumstance, Companies House is very strict. For example, your LLP is dormant. You did not know you require to submit a dormant account or that you do not have money to pay the penalty. Both of these circumstances are not considered exceptional.

On the other hand, you would have a better chance to get your late filing penalty waived. For instance, there was an unannounced postal strike by Royal Mail and you were affected by it.

However, if you are unable to pay the penalty now. You may write to Companies House to request to pay the penalty by instalments. You must include your propose instalment payment plan. For instance, say your penalty is £1500. You would like to pay £300 per month and you would settle it in 5 months.

Deliver accounts lateLate filing penalty apply
Less than 1 month £150
Less than 3 months £375
Less than 6 months £750
More than 6 months £1500

See accountants advice if you are not familiar with Companies House filings for your limited liability partnership.

Late filing penalty appeal

You may initiate a late filing penalty appeal if you think your circumstance led to late filing was exceptional. Usually, Companies House automatically issue late filing penalty notice to limited company because their accounts were late.

Let see what is considered an exceptional circumstance. Generally, an exceptional circumstance must be out of your control in order for your late filing penalty appeal be accepted.

You must appeal in writing. Normally, Companies House will reply you within 10 working days. At the same time, they will suspend the recovery action against you while they are considering your appeal.

Exceptional circumstances for late filing penalty appeal

First of all, the registrar has very limited discretion not to collect a late filing penalty. However, Companies House is willing to waive the late filing penalty when an unforeseen catastrophe strikes your company at a critical time. For examples,

  1. A severe computer failure and your accounting records were lost a few days (like 5 working days) before your filing deadline. For this reason, you may have a chance to get your penalty waived.
  2. Your accounts were delayed due to an unannounced strike action by Royal Mail.

Non exceptional circumstances

On the other hand, the registrar will not consider your late filing penalty appeal if the delayed in filing your accounts was one of the following.

  1. Your company is dormant and you thought you don’t need to file any account.
  2. You cannot afford to pay the penalty.
  3. Your accountant was ill thus not available to finish off the accounts.
  4. You relied on your accountant and they made errors.
  5. Former accountant refused to release accounting records to new accountant resulted in the delay.
  6. Incorrect advice given by Companies House. You may have a chance if you have an evidence to substantiate this claim.
  7. Never receive a reminder from Companies House. You must proof this is not Companies House’s fault. If you did not get your reminders because your registered office address is out dated then you stand no chance to appeal. It is your director’s responsibility to provide updated registered office address if you no longer have access to mails sent to your current registered office.
  8. These are your first accounts.
  9. You are not familiar with the Companies House filing requirements.
  10. Company director have financial difficulties (including bankruptcy).
  11. Your accounts were delayed or lost in the post.
  12. Your director lives or were travelling overseas.
  13. Another director is responsible for preparing the accounts.

Likewise, the same appeal rules apply to Limited liability partnership (LLP) accounts filing too.

Contact us If you have any questions about late filing penalty.

Pay late filing penalty

Pay late filing penalty is a must unless you intend to appeal against it and that your circumstance is exceptional. Generally, your company receive a late filing penalty because your accounts were submitted late, even just by one day. Thus, you must pay the penalty.

Usually, Companies House issue late filing penalty invoice after they received your accounts. Ordinarily, the invoice would be sent to your registered office address. If you wish to clarify your late filing penalty invoice, you may contact Companies House.

Universally, your company may pay your late filing penalty by number of methods acceptable with Companies House.

Pay late filing penalty by Cheque

Firstly, if you are to pay for the penalty by cheque, please write the cheque payable to Companies House. Thereafter, you have to send the cheque to the correct Companies House offices.

For example, for companies registered in England and Wales, and Northern Ireland, your cheque must be sent to Cardiff office.

Companies House Cardiff
P O Box 710
Crown Way
Cardiff
CF14 3UZ

whereas, for companies registered in Scotland, the payment must be sent to Edinburg office.

Companies House Edinburg
4th Floor
Edinburg Quay 2
139 Fountainbridge
Edinburg
EH3 9FF

Also, please write your company registration number and company name on the back of your cheque. Then, send your cheque together with the remittance slip to the Companies House. Job done and that’s all you need to do.

Pay by bank transfer, BACS, internet transfer

Otherwise, you may pay your late filing penalty by bank transfer. Companies House bank details are as follows:

Account name:Late filing penalties receipts
Account no:41005309
Bank address:National Westminster Bank, Roath, Cardiff
Sort code:52 21 07
Swift code (for overseas payments):NW BK GB 2122X
IBAN: GB34NWBK52210741005309

Remember to email the bank payment details to FPFinance@companieshouse.gov.uk providing your company name and number to expedite the settlement.

If you require help with your company accounts, our accountants would be able to assist you and take care of your company accounts and filing for you. Feel free to contact us.

Late filing penalty

Many people think that a non-trading company or a dormant company does not have to deliver company accounts to companies House because the company has nothing to show the public. Consequently, they received late filing penalty.

In accordance to Companies Act, all limited companies including dormant company that has been not traded are legally required to submit company accounts with the Registrar of Companies by the due date.

It is important you put together the books and records and send it to your accountants within reasonable time to prepare your company accounts. Failure to do so, the company will have to pay late filing penalty. If you are not sure your company accounts filing due date, you can check it at Companies house website. www.companieshouse.gov.uk

It is important to note that a late filing penalty is automatically sent to your company registered office even if your company accounts are filed late just by one day.

The benefits of preparing your company accounts soon after your accounting year ended allow you to assess the performance of your company in that financial year and set your goals for the future.

In addition, your accountants will be able to advice you your corporation tax payable to HM Revenue and Customs from the accounts prepared so that you know how much cash to put aside for your corporation tax bill.

If you are required guidance on filing your company accounts, feel free to contact our accountants, they will be more than happy to assist you.

Late filing penalty

Company accounts delivered late byLimited company (LTD)Public limited company (PLC)
no more than 1 month£150£750
no more than 3 months£375£1500
no more than 6 months£750£3000
More than 6 months£1500£7500

The late filing penalty for limited liability partnership (LLP) is similar to that of a limited company.

Avoid LLP late filing penalty

Avoid LLP late filing penalty by submitting your LLP accounts with Companies House on time.

Your LLP’s accounts filing deadline

Companies House website publishes your LLP’s accounts filing deadlines. The filing deadline is nine months after your accounting reference date. The accounting reference date is your LLP’s year end date.

If you do not remember your LLP’s account filing deadlines, you may contact Companies House directly or ask your accountants.

Mark in your diary or calendar to remind you in good time of your LLP’s accounts filing deadlines and also factor in the time to gather all the information and accounting records for your accountants to prepare your LLP accounts.

Reminders from Companies House

Companies House send reminders to your LLP’s registered office address to remind you of your LLP ‘s accounts is due. It is important that you can access to mails send to your registered office address.

If you are no longer able to access mails sent to your LLP’s registered office, it is time to change that address to a new registered office address. You must inform Companies House of the change.

Send LLP accounts by post

Allow enough time to ensure that your LLP accounts reach Companies House before the filing due date. If your filing deadline expires on a Sunday or Bank Holiday, the law still requires accounts to be filed by the due date.

If you are using UK post office or Royal mail service, please note that First-class stamp does not guarantee next day delivery, so please consider guaranteed methods of delivery to ensure your accounts arrive on time. Your LLP is liable to pay late filing penalty even if your accounts is delayed by the post service.

Alternatively, seek accountants help with your LLP accounts.

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