A new joint initiative between the government and Companies House will mean businesses can prioritise managing the impact of Coronavirus, with the new ability to apply for a 3-month extension for filing their accounts.
There are approximately 4.3 million businesses on the Companies House register, and all companies must submit their accounts and reports each year. Under normal circumstances, companies that file accounts late are issued with an automatic penalty.
As part of the agreed measures, while companies will still have to apply for the 3-month extension to be granted, those citing issues around COVID-19 will be automatically and immediately granted an extension. More can be found here