Late filing penalties

Discussion in 'Accounts & Finance' started by Jaydee, May 27, 2010.

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  1. Jaydee

    Jaydee UKBF Enthusiast Free Member

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    In April 2010, Companies House billed £9.227m in late filing penalties (in one month :eek: - no wonder they increased them all!) compared with £3.229m collected in the month for annual return filing fees.
     
    Posted: May 27, 2010 By: Jaydee Member since: May 27, 2007
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  2. elainec100@cheapaccounting

    [email protected] UKBF Newcomer Full Member

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    I can see why anyone needs to pay them - they have 9 months to do the accounts.

    Surely in that time someone would want to know how their business is doing :rolleyes::rolleyes:
     
    Posted: May 27, 2010 By: [email protected] Member since: Nov 4, 2005
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  3. maxine

    maxine UKBF Legend Full Member

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    Yeah but theres knowing how your business is doing and then actually doing the accounts... what a drag! I reckon if it was 9 weeks or 9 months I would still do them hours before the deadline :)
     
    Posted: May 27, 2010 By: maxine Member since: Oct 13, 2007
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  4. elainec100@cheapaccounting

    [email protected] UKBF Newcomer Full Member

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    See to me that is the same thing :D:D:D

    Along with a cash flow - sorted.

    Well entering it as I go into my system gives me most of that :D:D

    Job done;)
     
    Posted: May 27, 2010 By: [email protected] Member since: Nov 4, 2005
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  5. maxine

    maxine UKBF Legend Full Member

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    I find it's the erm.. "tidying up" at the end that takes the time :) But, that's just me. Note to self should take more care as I go!

    My accountant looks over everything at year end but she is as bad as I am ... Always faffing at the last minute.

    Surely you have clients as bad as me Elaine or am I special :)
     
    Posted: May 27, 2010 By: maxine Member since: Oct 13, 2007
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  6. elainec100@cheapaccounting

    [email protected] UKBF Newcomer Full Member

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    I nag mine far too much that there dare not leave it until the last minute!!! :eek::eek:

    Now I know that some may find that surprising :p:D
     
    Posted: May 27, 2010 By: [email protected] Member since: Nov 4, 2005
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  7. David Griffiths

    David Griffiths UKBF Legend Full Member - Verified Business

    11,426 3,561
    That's 53,000 companies at the lowest level of penalty!

    All making a purely voluntary contribution to the economy. Very nice of them. :D
     
    Posted: May 27, 2010 By: David Griffiths Member since: Jun 21, 2008
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  8. elainec100@cheapaccounting

    [email protected] UKBF Newcomer Full Member

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    So how many months of late filing penalties will it take to pay off the bankers cock up - oops I mean the budget deficit :):):)
     
    Posted: May 27, 2010 By: [email protected] Member since: Nov 4, 2005
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  9. Jaykay

    Jaykay UKBF Newcomer Free Member

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    Wow - what a staggering set of figures!

    The tax office must be following in the same mould, the penalties, surcharges and interest are huge!!!
     
    Posted: May 27, 2010 By: Jaykay Member since: Feb 1, 2010
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  10. David Griffiths

    David Griffiths UKBF Legend Full Member - Verified Business

    11,426 3,561
    But the figure that they announce for late filing penalties will be reduced significantly when the returns are submitted with no tax payable. Almost all the cases that we see have the penalties wiped out.

    Anyway, £9 million just about covers Whitehall's chocolate bikkie allowance for the month. :rolleyes:
     
    Posted: May 27, 2010 By: David Griffiths Member since: Jun 21, 2008
    #10
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