PMPA escapes heavy fine

The Professional Mortgage Packagers Alliance has avoided criminal charges and a hefty fine after failing to file its annual return.

This was due on September 15 after which it had 28 days (until October 13) to file it. Failing to file an annual return is a criminal offence and leaves companies at risk of prosecution and a fine of up to 5,000.

The PMPA says the problem arose after paperwork was sent to its old registered address rather than its new location.

Ian Nelson, chief executive of the PMPA, says: “We are working with Companies House to rectify the position and the necessary paperwork is already in transit. Companies House is happy with this position.”