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The Companies (Late Filing Penalties) and Limited Liability Partnerships (Filing Periods and Late Filing Penalties) Regulations 2008

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The Companies (Late Filing Penalties) and Limited Liability Partnerships (Filing Periods and Late Filing Penalties) Regulations 2008 List of acts
 Selected UK Acts and Regulations
    Wills and probate
 
Crown Copyright Acknowledged
CONTENTS

Draft Statutory Instruments

2008 No. 0000

COMPANIES

The Companies (Late Filing Penalties) and Limited Liability Partnerships (Filing Periods and Late Filing Penalties) Regulations 2008

Made                                            ***

Coming into force          6th April 2008

1.Citation, coming into force and interpretation

2.Late filing penalties under the Companies Act 2006 as from 6th April 2008

3.Late filing penalties under the Companies Act 1985 as from 6th April 2008

4.Late filing penalties under the Companies Act 2006 as from 1st February 2009

5.Late filing penalties under the Companies Act 1985 as from 1st February 2009

6.Limited liability partnerships: filing periods and late filing penalties

Signature

SCHEDULE

Explanatory Note

 

The Secretary of State makes the following Regulations in exercise of the powers conferred on him by section 257(1) and (4)(a) and (d) of the Companies Act 1985(1), section 15(a) of the Limited Liability Partnerships Act 2000(2) and sections 453 and 1292(1)(a) and (c) of the Companies Act 2006(3).

In accordance with section 257(2)(d) of the Companies Act 1985, sections 17(4) and (5)(b) of the Limited Liability Partnerships Act 2000 and sections 453(5) and 1290 of the Companies Act 2006, a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

Citation, coming into force and interpretation

1.—(1) These Regulations may be cited as the Companies (Late Filing Penalties) and Limited Liability Partnerships (Filing Periods and Late Filing Penalties) Regulations 2008.

(2) These Regulations come into force on 6th April 2008.

(3) References in these Regulations to late filing, or to a failure to comply with filing requirements, are to a failure to comply with the requirements of section 441 of the Companies Act 2006 (which apply in relation to financial years beginning on or after 6th April 2008) in relation to a company’s accounts and reports before the end of the period for filing those accounts and reports.

(4) For the purposes of regulations 2 and 4, whether a company is a public company or a private company depends upon its status at the end of the financial year in question.

Late filing penalties under the Companies Act 2006 as from 6th April 2008

2.—(1) This regulation applies where the requirements of section 441 of the Companies Act 2006 are complied with before 1st February 2009.

(2) The amount of the civil penalty to which a company is liable under section 453 of the Companies Act 2006 in a case of late filing is that shown in the following table:

____________________________________________________________________________________________________________

Length of period                                                                            Public company                               Private company

____________________________________________________________________________________________________________

Not more than 3 months                                                                        .£500                                                £100

More than 3 months but not more than 6 months.                                 £1,000                                              £250

More than 6 months                                                                              £2,000                                               £500

_____________________________________________________________________________________________________________

(3) The first column of the table (“length of period”) refers to the length of the period between the end of the period for filing the accounts and reports in question and the day on which the requirements of section 441 are complied with.

Late filing penalties under the Companies Act 1985 as from 6th April 2008

3.—(1) This regulation applies where the requirements of section 242(1) of the Companies Act 1985 are complied with on or after 6th April 2008.

(2) In section 242A of that Act(1), after subsection (2) insert—

“(2A) For the purposes of subsection (2), whether a company is a public company or a private company depends upon its status at the end of the financial year in question.”.

Late filing penalties under the Companies Act 2006 as from 1st February 2009

4.—(1) This regulation applies where the requirements of section 441 of the Companies Act 2006 are complied with on or after 1st February 2009.

(2) The amount of the civil penalty to which a company is liable under section 453 of the Companies Act 2006 in a case of late filing is that shown in the following table or, if there was a failure to comply with filing requirements in relation to the previous financial year of the company and that previous financial year had begun on or after 6th April 2008, double that shown in the table:

_____________________________________________________________________________________________________________

Length of period                                                                             Public company                              Private company

______________________________________________________________________________________________________________

Not more than 1 month.                                                                       £750                                                £150

More than 1 month but not more than 3 months.                                 £1,500                                             £375

More than 3 months but not more than 6 months                                .£3,000                                             £750

More than 6 months.                                                                            £7,500                                            £1,500

_______________________________________________________________________________________________________________

(3) The first column of the table (“length of period”) refers to the length of the period between the end of the period for filing the accounts and reports in question and the day on which the requirements of section 441 are complied with.

Late filing penalties under the Companies Act 1985 as from 1st February 2009

5.—(1) This regulation applies where the requirements of section 242(1) of the Companies Act 1985 (which continue to apply in relation to financial years beginning before 6th April 2008 and, in the case of limited liability partnerships, in relation to financial years beginning on or after that date as well)(1) are complied with on or after 1st February 2009.

(2) For the table in section 242A(2) of the Companies Act 1985(2) substitute the following table:

_______________________________________________________________________________________________________________

 

Length of period                                                                            Public company                  Private company

________________________________________________________________________________________________________________

Not more than 1 month.                                                                        £750                                     £150

More than 1 month but not more than 3 months.                                  £1,500                                  £375

More than 3 months but not more than 6 months.                                £3,000                                  £750

More than 6 months.                                                                            £7,500                                  £1,500

_________________________________________________________________________________________________________________

Limited liability partnerships: filing periods and late filing penalties

6.—(1) Section 443 of the Companies Act 2006 (calculation of period allowed for filing accounts and reports) applies to limited liability partnerships with the modification in Part 1 of the Schedule to these Regulations.

(2) Schedule 1 to the Limited Liability Partnership Regulations 2001(1) is amended as provided in Part 2 of the Schedule to these Regulations.

(3) This regulation applies to accounts and auditors’ reports for financial years beginning on or after 6th April 2008.

 
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