Companies are to be given a further three months to file their accounts, as they continue to navigate the economic effects of the coronavirus pandemic.
Late filing would normally incur an automatic penalty, however, under the new agreement between the government and Companies House, up to 4.3 million firms will be able to apply for an extension and instead focus on running their businesses.
Those citing issues around coronavirus will be automatically and immediately granted an extension.
Business secretary Alok Sharma said: ”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.”