Apparently not following UK business law "isn't as big a deal as you're pretending"

My friend and yours, Mr Chat-J3PT seems to think that CIG being overdue on account filings is a nothing burger.

What could happen if they don't

• The penalty amount depends on how late the accounts are and whether the company is private or public 
• Penalties increase over time 
• The penalty is doubled if the accounts are late two years in a row 

Also,

• The company may be struck off the register
• Directors may be held in breach of their duty
• Directors may face a claim against them by the company or a liquidator
• Directors may face criminal prosecution

No one is pretending IT's THE LAW.