What are the consequences for directors who file company accounts late? Nick Scott and Christopher Colthart explain all.
Under the Companies Act 2006 (CA 2006) it is a criminal offence for directors to file their company accounts late.
Typically, there isn’t any leeway in whether accounts have been filed late or not; as soon as a company is late with its accounts the offence is committed, and directors are at risk of a criminal prosecution. The longer the failure to file goes on, the greater that risk becomes. There can be many reasons why company directors fail to file their accounts on time; for example, there may be a shareholder dispute or some other issue delaying the preparation of the company’s accounts. Unfortunately, for what may seem a relatively minor infraction, a conviction for late filing of accounts can have far-reaching consequences, including possible disqualification as a director, foreign travel restrictions and disciplinary action by relevant professional regulatory bodies.
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