New Companies House Fines: What You Must Know

Think Companies House fines only apply to late accounts? Not anymore. From October 2024, you can be fined for missing a confirmation statement, even if everything else is in order. Here’s what’s changed and how to avoid a penalty.

Key Takeaways

• Companies House can now issue financial penalties for missing confirmation statements and other non-compliance - not just late accounts.

• Companies must provide a registered email and confirm their company’s lawful purpose in each confirmation statement.

• Staying on top of deadlines and filings is essential to avoid unexpected fines.

  
  

New 2024 Rules: Why Companies Can Now Be Fined

In October 2024, Companies House introduced new powers under the Economic Crime and Corporate Transparency Act. These powers allow them to issue financial penalties for more than just late accounts.

The first new fine applies if you miss the deadline for filing your confirmation statement even if everything else is up to date. This is now treated as a serious failure to meet your legal obligations.

Other changes include:

• Every company must now have a registered email address for official communication.

• You must confirm that your company is operating for a lawful purpose each time you file a confirmation statement.

RECOMMENDED READING: March 2024 Update: New Company Address Rules

What You Can Get Fined For and How to Stay Compliant

Here is what you can get fined for and how you can avoid a fine and stay compliant.

1. Late Filing of Confirmation Statements

Every company must submit a confirmation statement at least once a year. This document verifies that your company's details are up to date. If you miss the deadline, Companies House late filing penalties may apply. ​

2. Failure to Provide a Registered Email Address

From 5 March 2024, all companies are required to provide a registered email address for official communications. Neglecting to supply this email when filing your confirmation statement can lead to Companies House penalties. ​

3. Not Confirming Lawful Purpose

When submitting your confirmation statement, you must confirm that your company's intended future activities are lawful. Failing to make this declaration can result in a financial penalty. ​

To avoid these fines, make sure you:​

• File your confirmation statement on time.​

• Provide a valid registered email address.​

• Confirm your company's lawful purpose in the confirmation statement.

What We Think

Most companies want to do the right thing. They just don’t always have the time or headspace to stay on top of changing rules. From what we’ve seen, missed filings usually come down to being busy or confused, not careless.

We understand why Companies House is tightening things up. But we think there needs to be more support for those who are genuinely trying to stay compliant. Fines should never come as a surprise.

Making things simpler, clearer, and easier to manage would help more than penalties ever will.

How JAFA Can Help

JAFA is built for people who want to stay on top of things, but don’t have time to watch every Companies House update.

We’ll keep track of your confirmation statement and filing deadlines, send reminders, and file documents for you - on time and correctly. You won’t have to second-guess what’s due or worry about falling behind.

If you’ve already received a penalty, we can help you understand the process and guide you on how to appeal late filing penalty notices when appropriate. We can also help you pay Companies House penalty fines swiftly and get your filings back on track.

Contact our expert accountants based in Birmingham, UK, either by booking a FREE discovery call or calling us on +44 121 227 6277.