21 April 2021 | Comment | Article by Gerallt Jones
The introduction of the Corporate Insolvency and Governance Act 2020 (the Act) was a welcome relief for companies during the pandemic as it recognised the unprecedented burden COVID-19 had caused on companies’ administrative obligations.
One benefit of the Act was that it automatically extended a company’s deadline for filings at Companies House. This applied to filing accounts, confirmation statements, event-driven filings (such as updating a company’s Persons of Significant Control register) and charges.
The UK Government has now announced the withdrawal of these automatic extensions. This means that, from 5 April 2021 onwards, companies will need to fille these documents by their usual deadlines.
The guidance does however indicate that companies can still apply for a three-month extension for accounts filing that fall after 5 April 2021 by citing issues around COVID. Companies should check eligibility and apply for the three- month extension, if required, before their filing deadline. Filing deadlines can be checked on Companies House.
The outlook for Government guidance is seemingly based on a ‘return to normal’ with a roll-out of the vaccine. However, there are several elements of the Act still in place. For example, companies can still apply for a moratorium to consider a rescue plan and there is still a relaxation of the legal requirements in relation to general meetings. More detail can on both of these can be found here (moratoriums) and here (general meetings).
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