Latest News

Energy Efficiency PRS Regulations in Scotland on hold again

15 January 2021

The Scottish Government has today, 15 January, announced the Energy Efficiency (Private Rented Property) (Scotland) Standards that were to come into law in April 2021, with the first standard requiring properties to have a minimum EPC rating D for new tenancies from April 2022, have again been postponed. Read More...

New building safety regulators proposed for Wales

15 January 2021

The Welsh Government’s Building Safety White Paper covers all multi-occupied residential buildings, from houses converted into flats through to high rise apartment blocks. It sets out major reforms to how properties are designed, built, managed, and lived in whilst proposing clear lines of accountability and a stronger regulatory system. Read More...

Support growing for Fire Safety Bill amendments that add protection for leaseholders

15 January 2021

In November, the House of Lords passed an amendment to the UK Government’s Fire Safety Bill making changes to the current legislation to protect leaseholders from having to pay for historical fire safety remedial work, including the removal of dangerous cladding. Read More...

Tightened restrictions for working from home and in people’s homes

13 January 2021

First Minister, Nicola Sturgeon, has announced today, 13 January, six new changes to COVID-19 restrictions in Scotland to come into force on Saturday, 16 January, subject to Parliament approval. Among these changes are statutory guidance on working from home and a limitation on working within other people's homes by law. Read More...

Property industry urges the use of the UPRN across the sector

13 January 2021

Propertymark, along with other leading residential property bodies across the UK, have published an open letter to Robert Jenrick, Secretary of State for Housing, Communities and Local Government (MHCLG) and Thalia Baldwin, Director of the Geospatial Commission highlighting the potential benefits from implementing a widely adopted Unique Property Reference Number (UPRN). Read More...

Three-month extension period to file accounts during COVID-19

Tuesday 31 March 2020

Businesses who cannot file accounts on time due to COVID-19, and whose filing deadline has not yet passed, can apply for an automatic and immediate three-month extension.

All companies are required to submit accounts and reports each year and under normal circumstances, late ones are issued with an automatic penalty. However, the Government has announced a joint initiative with Companies House so businesses can prioritise managing the impact of Coronavirus.

Applications can be made through a fast-tracked online system, taking only 15 minutes to complete. Those citing issues around COVID-19 will be automatically and immediately granted an extension.

If companies do not apply for an extension and their accounts are filed late, the automatic penalty will be imposed. Any appeal is treated on a case-by-case basis, and Companies House already has policies in place to deal with appeals based upon unforeseen poor health.

Companies that have already extended their filing deadline or shortened their accounting reference period may be ineligible for an extension. If an extension is agreed, accounts must be filed before the new due date or the company will receive a late filing penalty.

Apply for an extension

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“We have outlined a business support package on an unprecedented scale, backing companies, and their employees through these challenging times.

But it is important that our support is not limited to financial assistance. We are determined to help businesses in any way we can so that they can focus all their efforts on dealing with the impact of Coronavirus, and this new offer of a three month extension for filing accounts is part of that.

Alok SharmaBusiness Secretary

  

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We recognise that these are uncertain times for businesses and that’s why we’re doing all we can to help.

By easing the burden, we can help businesses through this period and enable them to thrive in the future. I would encourage companies who believe they would benefit from this new flexibility to make an application in good time.


Louise SmythCompanies House Chief Executive

Propertymark members

Propertymark advises all members that can file on time, to do so in order to avoid unnecessary delays. Existing scheduled dates for submitting an accountant’s report as part of membership requirements remain in place. This requirement is a key component of compliance with membership for principals, partners, and directors.

Scheduled dates remain in place because Propertymark members collectively hold £1.5 billion in client accounts. The statutory requirements for Client Money Protection require regular inspection of client accounts to ensure that we are all maintaining expected standards of conduct in relation to client accounts. The Lettings Partnership Healthcheck offers a simple, cost-effective alternative to an Accountants’ Report – check if your business is eligible here.

Annual General Meetings

The government is also in close consultation with company representative bodies, legal practitioners and others, to look at solutions for the impact COVID-19 may have on companies’ ability to hold Annual General Meetings. Updated guidance on this matter will be published in due course.