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Unlimited fines for Companies Act offences

There are a wide variety of offenses which a Director could incur a penalty with Companies House, these fines and penalties are currently capped at £5000, they generally arise through non submission of annual accounts or annual returns or failing to report company secretarial matters.

This is all about to change as a result of the Legal Aid Sentencing and Punishment of Offenders Act 2012 (LASPO) fines which are currently capped can now be unlimited, leaving the ability for judges to impose more pertinent fines on wealthy individuals or corporates.