In a bid to help businesses during the coronavirus pandemic, HMRC has joined forces with the government to give businesses a three month extension from, 25 March 2020, to file their accounts to help them avoid paying penalties.
Businesses can apply through a fast-tracked online system which will only take 15 minutes to complete – however, companies that have already extended their filing deadlines, or shortened their accounting reference period, may not be eligible for an extension. Further information can be found at: https://www.gov.uk/guidance/apply-for-more-time-to-file-your-companys-accounts.
Companies House Chief Executive, Louise Smyth, said: “we recognise that these are uncertain times for businesses and that’s why we’re doing all we can to help”.
Lee Sugden, Director at Horsfield & Smith, commented: “under normal circumstances when businesses file late accounts, they are issued with an automatic penalty. These measures will come as a huge relief to many business owners during this challenging time”.
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