CORONAVIRUS UPDATE
Companies to receive 3-month extension period to file accounts during COVID-19
Businesses will be given an additional 3 months to file accounts with Companies House, to help avoid penalties as they deal with the impact of COVID-19.
From today, businesses will be able to apply for a 3-month extension for filing their accounts.
This joint initiative between the Government and Companies House will mean businesses can prioritise managing the impact of Coronavirus.
However, at MDH, we would advise getting your accounts done early!
You may have heard us previously talk about the benefits of getting your accounts done early, such as plenty of time to pay off your tax. But with HMRC allowing companies to defer their payments, there is a much bigger reason to get your accounts done early…
If you are applying for a Coronavirus Business Interruption Loan, the banks will want your most up-to-date financial statements.
Even if you are not applying for the CBIL, we would still advise getting your financial statements as up-to-date as soon as possible. This will allow better strategic planning for the coming months, during this uncertain time.
If you are concerned about how Covid-19 will affect you and your business, please give us a call on 020 8647 0297.
Although the MDH team are now working from home, we are still here to support you with whatever concerns you may have.
We have prepared information sheets detailing the different packages and schemes the Chancellor has set out, the eligibility of these schemes, and how to get access.
If you would like these information sheets, please email natalie@mdh.me.uk, and we will send these over to you
