Latest News

Why agents are using virtual tours in the UK’s current climate

28 September 2020

Made Snappy, a Propertymark Industry Supplier, discuss the benefits of agents using virtual tours and how agents can be more efficient whilst saving money and winning instructions in a challenging climate. Read More...

New Job Support Scheme announced by the Chancellor

24 September 2020

In a speech in the House of Commons today, 24 September, Rt Hon Rishi Sunak MP, outlined the UK Government’s next stage of the economic plan to protect jobs over the winter period with the announcement of a new Job Support Scheme. Read More...

New Chief Executive Officer of Propertymark appointed

24 September 2020

Tim Balcon joins Propertymark today, 24 September, as Chief Executive Officer, which is a newly created role, bringing over 20 years’ experience in membership and sector organisations. Read More...

More must be done to get empty homes back into use

14 September 2020

In a letter to Rt Hon Christopher Pincher MP, Minister of State for Housing, Propertymark campaigns for action on empty homes, asking what measures the UK Government is taking to improve the situation and get more empty homes back into use. Read More...

Avoiding the Stamp Duty rush – get properties on the market by 26 September

11 September 2020

Propertymark has launched a consumer campaign telling sellers in England that the optimum date to be on the market by is 26 September. This will reduce the chance of missing out on the Stamp Duty holiday deadline of 31 March 2021. 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.