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Revolut granted accounts extension after missing deadline again

Revolut accounts
Image credit: Revolut

Revolut has been granted a three-month extension after once again missing the deadline to file its annual financial accounts.

The fintech unicorn was initially supposed to file its accounts for 2022 by 30 September on Companies House, the UK’s register of firms.

A spokesperson for Revolut said: “We have received an extension for the filing of our 2022 accounts. We look forward to announcing our 2022 audit and annual report in due course.

“We continue to be pleased with the growth of the business, new products, higher user numbers and volumes, and increased financial metrics that result.”

The delay stems from a knock-on effect from the delay in filing its 2021 account, according to Sifted, which first reported the news.

Revolut is still awaiting a final decision from regulators on its application for a UK banking licence.  In May, the Telegraph reported that the Treasury was planning to reject Revolut’s application, but it has not yet served a final warning notice.

It followed concerns flagged in an audit of Revolut’s 2021 filings. Auditor BDO said in March that it was unable to verify around three-quarters of the company’s £636m of revenue for 2021.

Revolut denied claims that its accounts were in question, the black mark on its financial records from the auditor is understood to be a major hurdle for the company’s banking licence goals.

Company boss Nikolay Storonsky has repeatedly criticised the UK for insisting on overly bureaucratic red tape.

“You wait for emails or letters for months. This is not the business environment to operate in the modern world,” Storonsky said in May.

Read more: What next for Revolut if its UK banking licence is rejected?

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