- April 22, 2020
- Posted by: mardenco
- Category: Corporate Governance & Regulation
Companies House has confirmed that businesses will be provided with additional support to help them meet their legal responsibilities in light of the COVID-19 outbreak.
The measures include the following:
- Companies House will temporarily pause the strike off process to prevent companies being dissolved. This will give businesses affected by the coronavirus outbreak the time they need to update their records and help them avoid being struck off the register.
- Businesses can make an application for a 3-month extension to the deadline for filing their accounts. Businesses must apply for the extension before their filing deadline. Companies House has confirmed that those citing issues around COVID-19 will be automatically and immediately granted an extension. The best way to file is using the Companies House fast-tracked online system.
- Companies House have also stated that companies issued with a late filing penalty due to COVID-19 will have appeals treated sympathetically.
- The Secretary of State will continue to monitor what companies are filing and will provide further extensions if needed.
- The government will introduce legislation to ensure those companies required by law to hold Annual General Meetings (AGMs) will be able to do so safely, consistent with the restrictions on movement and gatherings introduced to address the spread of coronavirus. This will include greater flexibilities, including holding AGMs online or postponing the meetings whilst the COVID-19 outbreak continues.