Confirmation Statement: Everything You Want to Know
Posted in: Commercial
On June 24, 2021

Every year, all UK limited companies, large and small, must file an Annual Return (AR01) with Companies House.

The Annual Return replaced with a new document called a “Confirmation Statement” on June 30, 2016, as part of the Small Business Enterprise and Employment Act 2015.

The Confirmation Statement, like its predecessor, the Annual Return, is a snapshot of information about a company that must be presented once a year. Companies House makes the rest of the information available to the public.

Here’s all you need to know about the Confirmation Statement if you’re a limited company director:

Who Has To Submit Confirmation Statements?

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There are no changes to the regulations governing who must file. However, if you already submitted an Annual Return, you must now file a Confirmation Statement.

Every year, all UK companies limited by shares or limited by guarantee, limited liability partnerships, community interest companies, public limited companies, and unlimited companies must file a Confirmation Statement. A corporation, whether inactive or operational, should always submit a Confirmation Statement.

Confirmation Statements are not necessary for sole traders or common partnerships.

Confirmation Statement VS Annual Return

The confirmation statement superseded the yearly return on June 30, 2016. (Companies House form AR01). The confirmation statement keeps the public register up to date with information about the company.

So, how does it vary from an annual return? The format of the confirmation statement is simpler than the yearly return. After completing the yearly return, you need to supply all firm facts every time, even if there had been no changes. With the confirmation statement, you do not need to do this. Ensure that the information presented on file with Companies House is valid and up to date.

What Information Should Be Include in a Confirmation Statement?

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Verify and confirm the following information to successfully file a confirmation statement with Companies House:

  • Names of the company’s shareholders
  • Details on each shareholder’s shares
  • The location of the company’s statutory registers (registered office address)
  • Main business activities (SIC codes)
  • Capital statement
  • The total number of business shares (including the total nominal value of the shares)
  • If necessary, the total amount due on the entire number of shares issued by your firm.
  • Shares trading status
  • Information on Persons with Significant Control

Tip: Even if there were no changes during the review process, you must still file a confirmation statement with Companies House.

What Is The Submission Deadline For A Confirmation Statement?

There was a “made up to” date on Annual Returns. This is the date of information in return was correct, not the day it was filed. The “made up to” date has given way to the “confirmation date.”

Companies House believes the information on the Confirmation Statement to be true as of this date. As a result, a company’s next made-up date becomes the next confirmation date.

If you newly incorporated your company, your next confirmation date will be 12 months from the date of organization. You have 14 days from the date of confirmation to submit your filing (this used to be 28 days for an annual return).

How To File Confirmation Statement With Companies House?

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source: yourcompanyformationsblog.co.uk

Companies House charges a fee for the filing service of Confirmation Statement. It costs £13 to file it online and £40 to file it on paper. There is no VAT to pay.

Since just one charge is required every 12 months, a corporation will file many confirmation statements for a single fee. This might be beneficial if a firm has a lot of share transactions throughout the year and wants the public register to be up to date at all times.

What happens if I don’t submit the confirmation statement on time?

It will generate a lot of problems in the company as a result of not submitting confirmation statements on time. Therefore, it is considered a criminal offense if the confirmation statement is not filed within 14 days of the due date.

Directors and secretaries may face criminal charges. A person’s ability to work as a corporate director can be revoked. The firm may remove from the registration, implying that it will cease to exist.

Remember…

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To avoid the consequences outlined above. 

You must file a confirmation statement with Companies House before the required period ends. Rest assured, if you’re having trouble with any of the business formation procedures, you should seek the help of a trustworthy organization that can quickly provide a confirmation statement filing service with Companies House.

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