COVID-19: Three-month extension for filing accounts

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COVID-19: Three-month extension for filing accounts

Published 26 March 2020

Companies House announced yesterday that if a company cannot file its annual accounts by its normal filing deadline because it is affected by COVID-19, it can apply for an automatic and immediate 3-month extension to file its accounts.

Companies who may not be eligible for the extension

Companies that have already extended their filing deadline, or shortened their accounting reference period, may not be eligible for an extension.

How to apply for the extension

  • Applications can be made through a fast-tracked online system and will be granted immediately and automatically where issues around COVID-19 are cited in support.
  • An application for the extension must be made before the company's filing deadline.
  • The online application should take just 15 minutes to complete.
  • The application should include a full explanation of why the company needs the extension and COIVID-19 reasons should be referred to.
  • The policy will be kept under review and amended as necessary in light of the progress of the COVID-19 pandemic.

Late filing penalties

Under normal circumstances, a company that files its accounts late is issued with an automatic late filing penalty. However, the Companies House guidance states that appeals against such penalties based upon COVID-19 factors will be considered on a case-by-case basis, applying existing policies.

Companies House will not issue a late filing penalty if a company's application for an extension is approved and it files its accounts before the extended deadline.

Authors

Lucy Tyrrell

Lucy Tyrrell

London - Walbrook

+44 (0)20 7894 6313

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