£1500 Penalty from Companies House...anything I can do?

[greenever]

Please excuse me as this is my first post. I started a ltd company a couple of years ago and for various person reasons I took my eye off the ball, and ended up filing our company accounts 6 months and 6 days late.

Today, I have received a penalty from Companies House for £1500, which the company cannot afford to pay. How likely are Companies House to accept some sort of payment plan? I've read that they can be quite tough with penalties. Is there any chance they will accept personal circumstances as being valid reason to at least reduce the fine?

I completely accept it was my responsibility to file the accounts but our accountant left us in the lurch, I then lost my full time job, wife had a baby, and wifes grandad passed away, so it's not as if I've just ignored it.

The only other option I can think of is to close the company because I couldn't even afford £1500 spread over 12 months, let alone all in one go

 

[STDFR33]

Closing the company seems the best solution in this scenario.

 

[Clare@ClarityTaxation]

Give them a call, they are generally very pleasant to deal with. Explain the situation and ask if you can appeal the penalty on those grounds. It's worth a shot before taking drastic action.

https://www.gov.uk/government/publications/late-filing-penalties

Closing the company would be a last resort in my view, assuming you're still using it, and it can be a costly and time consuming process depending on the company position (assets, debts etc). If you're not using it then start closure proceedings now. Find a decent accountant and talk it through with them to get quote.

 

[UK Contractor Accountant]

I have, on several occasions, successfully against Companies House late filing penalties on the grounds of family grievance etc