Connect with us

Hi, what are you looking for?


Thousands of new businesses could fail to file important paperwork, as business registrations boom

business investment

More than 95,000 newly incorporated business could join the quarter of a million firms that failed to meet recent Companies House accounts deadlines this year, following a record boom in new business registrations.

According to official government figures there were 397,135 new incorporations in Q2 and Q3 2020 combined, with HMRC reporting that one in four businesses required to file a month-to-date VAT return failed to do so on time, as well as more than a quarter of a million companies missing the September accounts deadline.

The proportion of business that fail to meet the important filing deadlines may also increase due to the added pressures of Covid, despite deadline extensions, as business owners and directors deal with the pressures of running a business during the pandemic.

Simon Wallwork, Partner & Head of Corporate and Commercial at Slater Heelis, said: “The pandemic and resulting rise in redundancies have accelerated entrepreneurship over the past few months with many forced to register a company who wouldn’t have ordinarily. Although it is promising to see so many people creating their own opportunities, there is a lot more to running a business than many realise. Our Company Secretarial Services offering aims to take pressure off business owners and allow them to focus on growth and development opportunities by putting their admin work and continued statutory compliance into our safe hands.”

The Company Secretarial Services give clients secure, around the clock access to their company’s electronically held statutory books. It is suitable for any private limited company and offers to look after the maintenance and compliance of legal statutory records for businesses in all sectors.

Following business disruptions caused by the pandemic, Companies House has introduced a 42-day extension to file certain documents, such as the annual confirmation statement, changes to directors, persons with significant control or registered office. With this extension set to come to an end in April 2021, there is increased potential for owners and directors to put off important administrative work resulting in fines being incurred. 

Wallwork, continued: “Although many aspects of filing are staying the same, digital transformation within Companies House could lead to more missed deadlines for busy company directors. The Company Secretarial Services team will provide organisation of correspondence by forwarding any post or emails, giving directors more time to invest in running their companies.”

These changes also come at a time when Companies House is updating to paperless correspondence, increasing the risk of missed communications and deadlines. Rather than sending out physical posted filing reminders business directors will be emailed.”

Read more:
Thousands of new businesses could fail to file important paperwork, as business registrations boom

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



THE PESO strengthened against the dollar on Tuesday amid easing global oil prices and ahead of an expected increase in remittances due to the...


PHILIPPINE STOCKS extended their climb on Tuesday on last-minute bargain-hunting and ahead of the rebalancing of the MSCI. The bellwether Philippine Stock Exchange index...


THE government financial institutions (GFIs) that will be tapped to provide capital and help manage a P250-billion sovereign wealth fund have disclosed their proposed...


THE European Chamber of Commerce of the Philippines (ECCP) urged the Philippines to eliminate tariffs on imports of all electric vehicles (EVs) regardless of...


PRESIDENT Ferdinand R. Marcos, Jr. is expected to sign an executive order (EO) that will fast-track applications for investments deemed strategic to the economy,...


AN Israeli tech investor said a country’s legal system is a major consideration in attracting foreign investment, and urged legislators to reform the tax...

You May Also Like


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.