Failure to submit reports on time will result in fines from Companies House:
– if the report is submitted with a delay of up to 1 month – £150.
– if the report is submitted with a delay of 1 month to 3 months – £375;
– if the report is submitted with a delay of 3 to 6 months – 750 pounds sterling;
– if the report was submitted with a delay of more than 6 months – £1500.
* The penalty is doubled if the reports were submitted late for 2 consecutive years.
** Late returns may also result in tax penalties (HMRC), with a minimum penalty of £185