Need more time to submit your company accounts

If you need more time to submit your company accounts with Companies House. You must contact Companies House as soon as possible.

There are two main reasons why you must do so when you foresee you are unable to submit your company account on time.

  1. To avoid the expensive late filing penalty, up to £1500 for a private company and up to £7500 for a public limited company.
  2. Companies House may strike off your company and your accounts are overdue for a long time.

Events outside your control

If the reasons you are unable to submit your company accounts are because an event outside of your control prevents you to do so, do contact Companies House immediately.

An example of this kind of event would be fire has destroyed your company records a week before your account filing deadline.

On the other hand, If your reason for not able to submit your company accounts is due to your accountant is ill. You stand a very low chance to get an extension.

Apply to extend your company accounts filing deadline

There are two ways to apply to the extension of more time to submit your company accounts. You can do this online or by post.

Apply online

You will require the following information to apply online.

  • Your company number
  • The reasons why you need more time
  • Any supporting evidence to support your applications

Apply by post

Another way to apply for more time to submit your account would be by post. Again, Companies House would require the following information from you. Companies House would keep your information in strict confidence.

  • Why you require more time to submit your company accounts?
  • Your company number.
  • an email address to contact you.
  • Any supporting evidence to support your application (optional)

In terms of which Companies House office you must send your application to by post, it is dependent on where your company’s registered office address is situated.

Companies House England and Wales

Crown Way
Cardiff
CF14 3UZ
DX 33050 Cardiff

Companies House Scotland

4th Floor
Edinburgh Quay 2
139 Fountainbridge
Edinburgh
EH3 9FF
DX ED235 Edinburgh 1

Companies House Northern Ireland

2nd Floor
The Linenhall
32-38 Linenhall Street
Belfast
BT2 8BG
DX481 N.R. Belfast 1

Companies House will contact you

Companies House would review your application and they would usually contact you by email within 5 working days to tell you if your application is successful or that they require more information from you.

Thus, they will make a decision about your extension request accordingly.

Usually, if Companies House accepts your application for an extension. You would normally get an extra 30 days to submit your company accounts. Consequently, you must deliver your company accounts within 30 days.

Lastly, you must take note that the extension do not apply to your subsequent year account filing deadline.

Another important document you must file with Companies House is the confirmation statement, once every 12 months.

UK Auditors if Brexit no deal

UK Auditors only perform audit on UK companies will not be affected if Brexit no deal. However, Brexit no deal will affect UK Auditors that perform audit to UK companies operating in the European Economic Area (EEA) countries.

UK Audit qualification in EEA countries

First of all, your UK audit qualifications in the EEA country may not be valid if Brexit no deal. Currently, If you are able to sign audit reports with your UK audit qualification in an EEA country, you must contact the home country professional auditing authority.

Double check your eligibility as UK Auditor with UK audit qualification is still valid if Brexit no deal. Most likely, you would require to complete a new aptitude test or adaptation period. Alternatively, you may re-qualify by obtaining the relevant qualification.

UK Auditors audit EEA companies

Most importantly, if you expect to sign an audit report for an EEA company after Brexit no deal, check with the EEA home country auditing authority if you are still eligible to sign. If not, what steps you need to take for your audit opinion to be valid. The last resort is that you may require to resign as auditor if unable to obtain approval to act as an Auditor in the EEA country.

EEA Auditors in UK if Brexit no deal

EEA Auditors registered with UK professional accountancy bodies as statutory auditor do not need to take any action. Yahoo.

However, for new EEA qualified auditor working in the UK will have until 31 December 2020 to register as a statutory auditor. For this purpose, you must contact one of UK professional accountancy bodies. You would have to pass an aptitude test.

Auditors from Republic of Ireland generally not affected. With exception, auditors of CPA Ireland will need to take an aptitude test.

Auditor statement of circumstances

When your external auditor ceased to hold office, they are required to deposit a statement of circumstances at your company’s registered office. They must set out any issues relating to the cessation of office that should be brought to the attention of your shareholders or creditors of your company. If there is no issues then state that no circumstances exist.

In the case of resignation, your auditor’s statement should accompany with the notice of resignation. In the event where your auditor is not seeking reappointment, their statement should be deposited at least 14 days before your general meeting where your company account are laid. If a resolution has been passed to remove the requirement for laying accounts at general meeting then auditor must send their notice within 14 days of your accounts being circulated to your shareholders. In all other cases, your auditor must provide their statement of circumstances within 14 days if ceasing to hold office.

Thereafter, your company must send a copy of the statement to everyone entitled to receive a copy of your company accounts within 14 days.

Court order

If your company considers the statement of circumstances to be defamatory, you may apply to the court to have the statement not to be circulated.

Subsequently, you must inform your auditor within 21 days if a court order is sought. If this time elapses and no order is sought, your company’s auditor has a further seven days to send a copy of the statement to Companies House.

If your court application is successfully made, your company must inform everyone entitled to receive a copy of your company accounts within 14 days of the court’s decision. On the other hand, if the court order fails, your auditor’s statement must be circulated within the same time frame. Concurrently, you must also inform your auditor of the court’s decision. Your auditor then has a further seven days to deliver a copy of the statement to Companies House.