Leeds United fine on the way as Companies House updates with new submission
An update from Companies House on Saturday 08 April is set to be followed by a fine for Leeds United after the club missed the 31st March deadline to file their latest accounts.
A similar situation happened last year when the financial details were not posted until 06 April 2022 and as a result the amount of the sanction will be doubled.
Despite the missed deadline, the fine is not an excessive or a particularly harmful one but rather a matter of protocol, with the accounts available to view within the next 10 days it seems.
Speaking exclusively to MOT Leeds News, football finance expert Dr Dan Plumley stated, “I think it’s from £150 the fine for late filing.”
“It’s not much in the grand scheme of things but there is no real need for it. Penalties for late filing, up to one month is £150, one to three months is £375, three to six months is £750, and more than six months is £1500.
“Although, the penalty is double if they are late two years in a row, so it will be £300.”
This should not be happening, not for no valid reason.
Hopefully, more information will follow to allay any fears or concerns regarding matters behind the scenes.
Obviously, the fluid situation of the 49ers takeover is ongoing but as the US entity is already a significant minority shareholder of the club, there is nothing untoward expected at all in relation to the accounts.
Despite that, it is a situation to monitor in the coming days and whilst the club may not comment officially, there will be some reaction and analysis on the matter.
If nothing else, it is an example of best practice and diligence for the club to be on top of its obligations, especially on financial matters. When that does not happen, like in this instance, it just creates unnecessary noise that all at the club could do without, especially at a time when matters on the pitch are of paramount importance.
In other news, Phil Hay wowed by what he saw from Leeds ace who’s ‘like a new signing’.