If there is failure to comply with any of the foregoing requirements concerning maintenance of registers and documents, permitting inspection and/or supplying copies, the company and any officer who is in default will be liable to pay a fine with a daily default fine for continued non-compliance.
With a few exceptions these fines are set at one-fifth of the statutory maximum which currently works out at £1000, with daily default fines of one-fiftieth of the statutory maximum making £100 at present, so they are far from negligible.
Canterbury Accountancy - Helping businesses to understand their legal obligations under Company Law.
