Failure to comply with many of the requirements imposed by the Companies Act 2006 on a company and its officers is a summary offence.
Previously the maximum fine for a summary offence under any legislation was £5,000, the so-called "statutory maximum" or "level 5 on the standard scale". This cap has now been removed, meaning that magistrates now have the power to impose whatever fine for a summary offence they consider most appropriate in the circumstances, including for Companies Act 2006 offences.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.