Self-reporting late filing penalties

The request was refused by Solicitors Regulation Authority.

Dear Solicitors Regulation Authority,

Regulated firms and individuals have a duty under SRA principles to report if they ae experiencing financial difficulties.

The government applies financial penalties for any company that is late filing its accounts to Companies House. The penalties are as follows?

Penalty for a private company or LLP Penalty for a public company
Not more than 1 month £150 £750
Not more than 3 months £375 £1,500
Not more than 6 months £750 £3,000
More than 6 months £1,500 £7,500

With that in mind, in the last 12 months, how many regulated firms have reported to the SRA that they have been issued with these fines at each level of financial penalty? (ie XX number of firms say they have been fined £150, YY number of firms say they have been fined £375, etc).

Yours faithfully,

John Hyde

SRA Information Compliance, Solicitors Regulation Authority

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Dear John Hyde,

 

Please find attached our response.

 

Kind regards,

Harry Evans

Information Governance Officer
Solicitors Regulation Authority

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From: John Hyde <[FOI #957844 email]>
Sent: 08 March 2023 11:53
To: SRA Information Compliance <[email address]>
Subject: Freedom of Information request - Self-reporting late filing
penalties

 

Dear Solicitors Regulation Authority,

Regulated firms and individuals have a duty under SRA principles to report
if they ae experiencing financial difficulties.

The government applies financial penalties for any company that is late
filing its accounts to Companies House. The penalties are as follows?

Penalty for a private company or LLP Penalty for a public company
Not more than 1 month £150 £750
Not more than 3 months £375 £1,500
Not more than 6 months £750 £3,000
More than 6 months £1,500 £7,500

With that in mind, in the last 12 months, how many regulated firms have
reported to the SRA that they have been issued with these fines at each
level of financial penalty? (ie XX number of firms say they have been
fined £150, YY number of firms say they have been fined £375, etc).

Yours faithfully,

John Hyde

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