This move is part of efforts to increase corporate transparency and reduce the avoidance of legal obligations. It means that companies that don’t respond to reminders to file their confirmation statement could face financial penalties, or in serious cases, be struck off the Companies House register.
A written warning notice may be issued to registered companies who do not file their confirmation statement on time, leaving 28 days (starting the day after the warning notice is issued) to take the necessary action, or to provide any information they wish Companies House to consider.
The most effective way to avoid penalties is by fulfilling your legal responsibilities as a director or officer of your company. This includes:
These changes could include:
The Registrar might give you a fixed penalty, a daily penalty, or both, it depends on how long the offence goes on. These financial penalties are used instead of prosecution and the amounts are like those that may face a fine from the court for the same offence. For serious breaches and criminal offences court prosecutions may follow and result in the imprisonment of directors.
The penalty amount will be determined by the Registrar considering the seriousness of the offence and how many times the company has committed the same or similar offences in the last five years. Persistent offenders will face higher penalties.
For further information regarding confirmation statements, please click here.
If you have any questions or you’d like further support, please get in touch.
Give us a call on 01872 267 267, email us contact@whyfield.co.uk, or message us on WhatsApp 0777 49 39 111
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