- Huw Hughes |
The UK government is giving companies an additional three months to file accounts to help them prioritise managing the impacts of Covid-19.
Normally, all companies on the Companies House register - of which there are around 4.3 million - must submit their accounts and reports each year, with automatic penalties issued if they are late. In light of the ongoing coronavirus crisis, firms can now apply for a three-month extension for filing their accounts citing issues around Covid-19 and they will “automatically and immediately” granted an extension.
The joint initiative between the government and Companies House means firms can apply for a 3-month extension for filing their accounts.
Business secretary Alok Sharma said in a statement: “We have outlined a business support package on an unprecedented scale, backing companies, and their employees through these challenging times.
“But it is important that our support is not limited to financial assistance. We are determined to help businesses in any way we can so that they can focus all their efforts on dealing with the impact of Coronavirus, and this new offer of a 3-month extension for filing accounts is part of that.”
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.”
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