A ‘hard core’ of company directors are failing to file accounts on time at Companies House, according to the complaints adjudicator of the government agency.
Releasing his annual report last week, William Thomas said he had accepted 77 new cases in the year to March and rejected 71 of the 78 complaints on which he adjudicated. But Thomas said it was directors who failed to meet their legal obligations that most concerned him. ‘In the cases that come to me, I see that some directors were clearly let down by their accountants; others had cash-flow problems and could not pay their accountants; others simply believed that once they had signed the accounts some magic would ensure their safe and timely arrival at Companies House,’ said Thomas.
‘Where the evidence is that a company has a claim against its professional advisers, I point it out; but I also make it clear – and do so here – that the legal duty to file accounts on time is that of the directors and no one else.’
Thomas also warned he would not be sympathetic to anyone filing late because of problems connected with the millennium date change. He urged directors to file accounts by the end of November to avoid millennium-related problems and the vagaries of the Christmas post.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.