Companies House update strike off policy and late filing penalties
On 16th April 2020, further alterations were made by Companies House in light of the on-going Covid-19 pandemic.
Companies House had initially announced that businesses due to file their annual accounts could apply for a three month extension and now it has revised its policies for company strike offs and penalties for late filing of documents.
These changes are only temporary, and Companies House will be reviewing them throughout the course of the pandemic.
Company Strike Offs
Companies House have confirmed that for the time being, they shall ‘ease strike off activity’ to protect those who may wish to object to the company being struck off (i.e. creditors).
The new process will mean that upon the company registering an application for strike off, Companies House will publish a notice of the proposed strike off in the Gazette as usual; however, no further action will be taken.
Separately, Companies House has the power to strike off a company should it fail to file its annual accounts and/or confirmation statement on time. Typically, at the time of failing to file accounts, Companies House would publish a strike off notice in the Gazette. However, due to the pandemic, Companies House will not publish the notice, but will continue to send reminders to the organisation that its filings are overdue.
Companies House have stated that they shall ‘provide a break’ for companies to pay late filing penalties and shall ‘provide additional support including payment plans’ for those companies struggling to pay historical penalties too.
No further information has been given at this time, although it is likely that each case will be individually assessed and Companies House will take a sympathetic stance in order to minimise the damage to businesses at this unprecedented time.
For more information about the temporary modifications to policies at Companies House or if you require any legal assistance as a result of changes to your business as a result of the Coronavirus, please contact a member of our Corporate team on 01296 318 500 or email us email@example.com