Companies House have strengthened their fines regime for limited companies filing their company accounts late. The fines are now as follows:

• £150 – Up to one month late
• £375 – One to three months late
• £750 – Three to six months late
• £1,500 – More than six months late

And these penalties can be doubled for the second year that the accounts are late, so beware sending your records in at the last minute. It could prove an expensive mistake.

The current world financial situation leaves us with plenty to worry about but it also provides lots of opportunities. The media ensure that we hear everything we need to worry about the situation. The question is how will we respond? How can business owners be realistic and responsible while at the same time plan to come through the recssion stronger? One of the HfM directors Stephen Russell Smith, who is a qualified and experienced business advisor, has written a short guide to Surviving and Thriving Through the Recession that you can download for FREE here.