SAIC fined for not submitting its 2015 accounts

I had hoped to share with you details from their accounts. Instead I have to share the following information:

SAIC MOTOR UK HOLDING CO., LTD 06174862
SAIC MOTOR UK TECHNICAL CENTRE LIMITED 05437330
NANJING AUTOMOBILE CORPORATION (UK) LTD 05586826
MG MOTOR UK LTD 05779958
MG SALES CENTRE LIMITED 07416929

SAIC's UK subsidiaries shown above have not filed their accounts for year ending 31/12/15 yet. UK company law requires accounts to be filed within nine months of the year end and Companies House states that these accounts are now overdue. Not filing accounts on time is a red flag to accountants and credit reference agencies as they see it as the sign of a company not being properly managed. They also don't like the unknowns.

What happens to SAIC?
Each of the above five companies will be fined until its accounts are submitted. As it was late last year, the fines will be double the usual rates. The rates are:
Up to a month late £150 x 5 companies x 2 = £1,500
Between one and three months late £375 x 5 companies x 2 = £3,750
Between three and six months late £ 750 x 5 companies x 2 =£7,500
More than six months late £1,500 per company x 5 companies x 2 =£15,000
Source: http://ift.tt/2e97aTJ

Failure to file accounts is a criminal offence which can result in directors being fined personally in the criminal courts but I do not envisage this situation occurring with SAIC.

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SAIC fined for not submitting its 2015 accounts