Companies House NewsCompanies House NewsCompanies House has recently reminded companies that filing their annual accounts and annual return late are criminal offences. If accounts are late, there could be a penalty of up to £5,000 to pay. If an annual return is late a company may be struck off. This should be incentive enough to ensure that these documents are filed on time!
In an attempt to help combat fraud, Companies House has also introduced a new service, known as PROOF (PROtected Online Filing). This service is in addition to the existing Monitor service which also helps combat fraud. These services are in part a response to a scam known as ‘company hijacking’.
Hijacking involves fraudsters forging certain documents that are filed at Companies House, form 287 being the main one. In fact, this scam is sometimes known as the ‘287’ scam. This form changes a company’s registered address but the scam may also include forging forms that change the addresses of company directors.
Once they have decided upon a target company, hijackers manually submit a new form 287, changing the company’s registered address to one that they control. Companies House automatically processes the form and makes the requested changes. The hijackers are then in a position to use the company to order goods and services, trading off its creditworthiness. Goods delivered to the bogus address are then sold on but the supplier never receives payment.
This can obviously lead to severe problems for the real company and its directors to sort out. The first that the directors may hear of the problem is when suppliers try and enforce payment for goods ordered in the company’s name!
If you would like to find out more about filing deadlines, the PROOF or Monitor services visit the Companies House website at www.companieshouse.gov.uk or contact us.