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akinika and Optima Legal win Companies House penalties collections contract

March 2015

akinika and Optima Legal win Companies House penalties collections contract

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akinika, part of Capita plc has been awarded a contract with Companies House for the recovery of late filling penalties from UK listed companies. The contract also includes the provision of litigation recovery services, which will be delivered by Optima Legal.

The two year contract is due to start in March 2015 and will be managed from akinika’s headquarters in Preston. 

akinika, a UK debt collection agency was awarded the contract through competitive tender. The contract will provide collection of penalties for the late filing of accounts for UK limited companies, which are incorporated and registered by Companies House. 

All companies – private or public, large or small, trading or non-trading – must file accounts with Companies House every year. Penalties for late filings of accounts range from £150 to £15,000. 

In the financial year between April 2013 and April 2014, Companies House data revealed that more than 165,000 UK companies had filed their accounts late. The number of late filing penalties issued was up 3,500 on the year before, resulting in £84m worth of fines being imposed. Failure to deliver accounts on time can affect company's reputation and its ability to trade and secure credit.

Simon Smith, managing director of akinika, said: “akinika’s team in Preston provides an outstanding service in helping clients successfully and fairly manage later stage arrears. 

“Winning this contract with Companies House is testament to the team’s hard work and akinika’s understanding of our clients’ requirements. Working alongside Optima Legal means that all elements of the recoveries solution will be delivered by Capita-owned businesses, allowing us to pass on the advantage of close working, professional relationships and in turn, improving standards for all parties concerned.” 

David Ashcroft, managing director of Optima Legal added “Here at Optima, we have over 30 years knowledge and experience in delivering commercially sound litigation services for our clients. We understand the value of ensuring that litigation services for Companies House is both efficient and effective and we are committed to maintaining these standards.”

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