Confirmation statements will replace the annual return for companies from 30 June 2016.
Companies will need to file a confirmation statement from this date, providing up to date information for inclusion on the public register.
The main difference between the new document and the annual return is that companies will now ‘check and confirm’ the information held by Companies House rather than providing a snapshot of data at a specific date.
Confirmation statements also need to include information held in people with significant control (PSC).
Changes to shareholders, SIC code or amending the statement of capital will need to be recorded.
Other changes (such as a new registered address) must be registered on a separate form alongside your confirmation statement.
Companies House will assist in checking and confirming if the company information is correct.
The following costs will apply when filing your confirmation statement:
- £13 when filed online
- £40 when filed on paper.
Fees are paid once a year and will cover for a 12 month period.
Companies can submit as many statements during the year as they choose to. However, after the 12 months, the fee will renew to submit your statement either online or by letter.
Quote from Nigel Holland:
“Businesses already are obliged to submit a large number of forms to HMRC and Companies House and many firms will assume that the introduction of the new rules about submitting a confirmation statement will add to the red tape for businesses. However I am in favor of the introduction of the confirmation statement because it should help reduce the admin currently required by companies.
Check and confirm submissions tend to be less time consuming for businesses. I suppose there will be an initial cost to firms because they may need to adjust their procedures for them to be compatible with the new rules. Once these procedures are adopted I do not see there being many problems.”
Contact us today to discuss business reporting.