Currently private company accounts have to be filed within 10 months of its year-end and a PLC within 7 months. These will reduce to 9 months and 6 months respectively during 2008. There are penalties for late filing and companies can be struck off by the Registrar of Companies if the accounts are too late. The penalties range from £100 (for being up to 3 months late) to £1,000 (for being more than 12 months late) for private companies and £500 to £5,000 for PLCs, and are strictly enforced.

 

These deadlines are different from those for tax payment and filing of tax returns (which for most companies are 9 months and 1 day, and 12 months after the year end respectively).