The Companies Act 2006: The changes affecting Limited Companies

Change to the filing deadline for annual company accounts

The Companies Act 2006 reduces the period available to file accounts at Companies House. For Company year ends starting after 6 April 2008, the filing deadlines for annual accounts reduce from 10 months after the year end to 9 months.

For example, a company with a 31 March year end:

• Year end 31 March 2008, file by 31 January 2009
• Year end 31 March 2009, file by 31 December 2009 

Change to the Companies House late filing penalty regime

Companies House have also increased the late filing penalties, applying to accounts delivered late on or after 1 February 2009 . The new penalties are as follows:

• Up to one month late £150
• One to three months late £375 (previously £100 for up to 3 months)
• Three to six months late £750 (previously £250)
• More than six months late £1500 (Previously £500 for 6-12 months, £1000 for over 12 months late)

There is also a “repeat offender” supplement – the penalty is doubled if your accounts were late in the previous year.

Change to the requirement for a Company secretary

From 6 April 2008 private limited companies can choose whether they wish to have a company secretary or not.

If you decide to dispense with the appointment of a company secretary you will need to:

• Notify Companies House using the appropriate form
• Amend the company's Articles of Association (only necessary if the Articles specifically require that company has a secretary)

Change to the content of Annual returns

From 1 October 2008 the Annual Return for private limited companies will not disclose shareholders addresses, only their names.