Company Accounts: Fines
(asked on 12th December 2024) - View Source
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how much the late filing penalties from companies failing to file their annual accounts within the deadline were in each financial year between 2018-19 and 2023-24.
Answered by
Justin Madders
Parliamentary Under Secretary of State (Department for Business and Trade)
Official statistics on the value of collected late filing penalties are published in the annual report of Companies House. We have excerpted and reproduced the relevant figures for companies failing to file their annual accounts within the deadline below:
2018-19 | £95,972,000 |
2019-20 | £95,728,000 |
2020-21 | £96,695,000 |
2021-22 | £173,673,825 |
2022-23 | £164,663,042 |
2023-24 | £158,479,669 |
Expenditure for the LFP scheme activity is not funded through fees. Penalties collected in respect of company accounts filed late with Companies House are paid to HMT, net of costs incurred in running the scheme.