Guidance

Corporate Insolvency and Governance Act 2020

How the measures introduced by the Corporate Insolvency and Governance Act will affect your filings at Companies House.

• From: Companies House
• Published: 26 June 2020
• Last updated: 25 March 2021 — See all updates

This publication was withdrawn on 6 April 2021

The automatic extensions granted by the Corporate Insolvency and Governance Act have come to an end.

For accounts filing deadlines that fall after 5 April 2021, see applying for more time to file your accounts.

Documents

Changes for public companies

HTML

Details

On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (the Act) received royal assent. It came into force on 26 June 2020.

The measures introduced by the Act will relieve the burden on businesses during the coronavirus (COVID-19) outbreak and allow them to focus all their efforts on continuing to operate.

This guidance outlines how the measures introduced by the Corporate Insolvency and Governance Act will affect public limited companies (PLCs) and Societas Europaea (SEs) filing accounts with Companies House.

The Act will also introduce changes to the insolvency regime.

Accounts

Companies and other types of business registered at Companies House will get more time to file accounts.

If your company is eligible, we’ll update your filing deadline automatically. You do not need to apply for an extension.

There are changes for public companies with a filing deadline between 26 March 2020 and 29 September 2020.

Insolvency

The Bill will introduce a new moratorium to give companies breathing space from their creditors while they seek a rescue. It will also introduce a new restructuring plan sanctioned by the court that will bind creditors to the plan.

Directors will still need to meet their filing obligations with Companies House. Late filing penalties will still be applied if accounts are filed late.

The Monitor is appointed to oversee the moratorium. They will need to file notices with Companies House during the moratorium.

See our liquidation and insolvency guidance.

A restructuring plan does not take effect until a copy of the court order has been delivered to Companies House. It will then be registered against the company.

For more information, see Applying for a moratorium under the Corporate Insolvency and Governance Act 2020.

More information

• List of moratorium forms
• Guidance for monitors
• Corporate Insolvency and Governance Bill 2020: factsheets
• Coronavirus guidance for Companies House customers, employees and suppliers
• Coronavirus (COVID-19): what you need to do
• COVID-19: guidance for employers and businesses
• Coronavirus (COVID-19): Business support

Published 26 June 2020
Last updated 25 March 2021 + show all updates

1. 25 March 2021

   The automatic extensions granted by the Corporate Insolvency and Governance Act will come to an end for filing deadlines that fall after 5 April 2021.

2. 26 June 2020

   First published.