A blog by Connor Henderson Connor Value Added Tax (VAT)…
10 Questions & Answers on Confirmation Statements
Below, we run through the most common questions we get asked about them.
1. What is a confirmation statement?
A new filing requirement was introduced by Companies House in June 2016, replacing the Annual Return. A confirmation statement serves a similar purpose to the old annual return but in a much simpler format.
2. Do I need to file one?
If you’re a limited company or limited liability partnership, then yes. At least once every 12 months you must file a statement with companies house, including if you’re dormant!
3. What does a confirmation statement do?
In essence, the confirmation statement confirms to Companies House that the information held by them and on display to the public is accurate and up to date. The confirmation statement requires you to update any inaccuracies by using a separate form before or during submission.
4. Does it take a while to complete?
The first one will take slightly longer as you’re inputting new information, but provided there has been no changes to information in the last year, then it is literally a click of a button once you’ve reviewed the information.
5. What is a PSC?
Persons of significant control should be recorded and held on a register at the registered office. If you were already incorporated before 6th April 2016, you should have created a register. If you incorporated afterwards or plan to in the future, you’ll be asked to provide these names during the company formation.
6. What is included on a confirmation statement?
A CS will include basic information such as the company name and registration number, registered address, director and secretary information, shareholders, share capital and share distributions, and of course the new requirement of any PSCs.
7. How do I update the confirmation statement?
As soon as the change occurs (SIC code, address, PSC information), Companies House should be informed using the relevant forms. Of course, if you’re a client of ours, we do this for you after checking that the details are correct.
8. When do I submit my confirmation statement?
You must file a confirmation statement at least once every 12 months, and the due date is referred to as the ‘confirmation date’. This date is the anniversary of company formation or the ‘made up to’ date of your last return. You have 14 days from the confirmation date to deliver your statement to Companies House each year.
9. Who should file my confirmation statement?
Legally, it is the responsibility of the company directors, secretaries and designated LLP members to make sure a confirmation statement is delivered to Companies House on time. Of course, if you have an accountant they can usually do this for you, and at Blu Sky it forms part of our service agreement.
10. What if I don’t file one?
Companies House can begin strike-off of a company that fails to submit a confirmation statement as it is a criminal offence. Officers of the company face potential personal prosecution for not fulfilling their legal duties in relation to their company.
“Pay day” is the day that every employee looks forward…
Written by The Brew – partners with Blu Sky…