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1. How will I know when a penalty is due?
If accounts are delivered late, an invoice is issued automatically to your registered office address.
2. What will happen if the penalty is not paid?
The penalty will be referred to collection agents. If it remains unpaid, legal action may be taken which could result in a County Court judgment or a Sheriff Court decree against your company.
3. What happens if a company is restored to the Register?
If a company is restored to the Register after being struck off and dissolved, then it is regarded as having continued to exist as though it had never been struck off. Accounts filed on restoration will be subject to late filing penalties.
In determining the level of any penalty, the period during which the company was dissolved is normally disregarded. For example, a set of accounts that should have been delivered 2 months before a private company was dissolved are still regarded as 2 months late if they are delivered on restoration - the late filing penalty is still £100. (See chapter 1, question 2 for a table listing the levels of late filing penalties.)
Late filing penalties are not normally collected for accounts received on restoration that became due while the company was dissolved.
For more information about restoration, please see the booklet, ‘Strike-off, Dissolution and Restoration’ or, for companies registered in Scotland, ‘Strike-off, Dissolution and Restoration (Scotland)’.
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