It including the imposition of the late filing penalty, prosecution of the company and/or its directors, the loss of the audit exemption or the possible involuntary strike-off and dissolution of the company. Many directors do not appreciate the repercussions of the automatic loss of audit exemption, but in short it adds significantly to cost of annual accounts for the next two years. The need for good compliance is obvious but the administrative burden can at times be overwhelming. We aim to make it as simple and as straightforward as possible by using software systems to monitor and control the filing dates for all our corporate clients.