www.xaviersaccountants.co.uk

Companies House urges all companies to sign up for email reminders

From Monday 9 November 2020, Companies House is contacting all companies currently receiving paper reminders. The letter explains that Companies House has stopped the paper service and shares its plans on how they will reinvest the cost saving. The service is free, and you can:

· choose up to 4 people to receive a reminder (including an agent)

· file your document immediately from a link within the email

The service is free, and you can:

· choose up to 4 people to receive a reminder (including an agent)

· file your document immediately from a link within the reminder

· receive reminders more conveniently

· avoid late filing penalties by filing your accounts on time

Missing SRA Accountants Reports deadline

What will happen if I miss the accountant’s reports deadline, and risk any qualified reports being submitted to the SRA late?

Please see SRA response: We expect solicitors and law firms to do everything they reasonably can to comply with our Accounts Rules and to keep clients' money safe and separate from the firm's own money. We require certain firms to obtain an independent accountant's report to confirm that these overarching objectives are met.

However, these are exceptional circumstances and we would take a pragmatic and proportionate approach to any delay in preparation of an accountant's report. If there are good reasons for a reporting accountant needing longer to prepare a report because of the impact of the coronavirus - which takes a firm outside of the six months window - we would not take any subsequent disciplinary action.

If a firm has delayed getting their accountant's report because of the coronavirus, we would not view that as a serious breach that needs to be reported to us by the COFA. You should, however, clearly document the reasons for any delays and the approach you and your reporting accountants have taken.