Companies will to apply for the extension
From today (25 March 2020), businesses will be able to apply for a 3-month extension for filing their accounts.
The joint initiative between the government and Companies House means businesses can prioritise managing the impact of Coronavirus. 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.
“By easing the burden, we can help businesses through this period and enable them to thrive in the future. I would encourage companies who believe they would benefit from this new flexibility to make an application in good time.”
There are approximately 4.3 million businesses on the Companies House register. These companies must submit their accounts and reports each year. Under normal circumstances, companies that file accounts late are issued with an automatic penalty.
As part of the agreed measures, while companies will still have to apply for the 3-month extension to be granted, those citing issues around COVID-19 will be automatically and immediately granted an extension.
Applications can be made through an online system which will take 15 minutes to complete.
This policy will be kept under review and amended as necessary in light of the progress of the COVID-19 pandemic. Full guidance on applying for an extension can be found here.