One of the most crucial obligations of a limited company director is to validate your business details with Companies House once a year. This procedure was known as an Annual Return until June 30, 2016, when it was replaced with a comparable document known as a Confirmation Statement.
Failure to submit a Confirmation Statement is a criminal offence that may result in personal fines for directors in criminal courts. Companies House may also remove the firm from the register, which can be costly and time-consuming to reinstate.
When must you file a Confirmation Statement?
It must be completed at least once every year and within 14 days before the due date. The due date is usually a year following incorporation or the last time you filed a Confirmation Statement. Even if the corporation is defunct, you must file a Confirmation Statement.
What is the difference between an annual return and a confirmation statement?
As previously stated, the Confirmation Statement has taken the place of the former Annual Return. A Confirmation Statement has the same information as an Annual Return, but now includes information on 'Persons of Significant Control' for the Companies House PSC Register.
Somebody is a PSC if they are:
Holds more than 25% of the company's shares or voting power.
Can appoint and remove a majority of the board of directors of the company.
Has the authority to exert substantial influence or control over a corporation or other legal body, such as a trust.
What specific details should be included in a Confirmation Statement?
You will need the following information to complete the Confirmation Statement:
Name of the company
According to the information provided to Companies House.
Company identification number (CRN)
This information may be found on your certificate of incorporation as well as any formal papers obtained from Companies House.
Capital statement
This document contains information on your company's issued shares as of a certain date.
Whether or not the corporation was a "traded company" at any point throughout the return period.
A 'traded corporation' is one whose shares are traded on a relevant market. This includes any market formed under the regulations of a UK-registered investment exchange, any other'regulated' market in or outside the UK, and any other market outside the UK.
Shareholder information
The shareholders' information, including name, address, and number of shares owned.
Significant Control Persons and the Reasons for Their Inclusion
Persons of Significant Control are individuals who own more than 25% of the company's shares or voting rights, have the authority to appoint or remove the majority of the company's board of directors, or have the ability to exercise significant influence or control over the company or another entity such as a trust.
Industry standard classification (SIC code)
A five-digit code related to the type of your firm, which you may find on this page.
The company's primary business activity
More particular details about your day-to-day operations.
Type of business
Regardless of whether your firm is public or private.
The company's registered office address
According to the information provided to Companies House. This may not be your usual place of employment.
a single alternate inspection site (SAIL)
If the business's registered office is not available, this is the place where some corporate documents are kept. The records' specifics must also be provided.
Where appropriate, contact information for the corporate secretary.
Do you need assistance with your Confirmation Statement?
Confirmation Statements are handled for you by our Crunch limited business accounting products. If you pick our Pro package, we will prepare it for you and you will just need to pay the Companies House filing charge. Submission is free with the Crunch Premium and Small Business programmes.
If you're tired of juggling spreadsheets and never finding the proper invoice, Crunch's free accounting software is for you, whether you're a freelancer, single trader, or limited corporation. With an award-winning Customer Solution staff and Chartered Certified Accountants, we offer the UK's most cost-effective online accounting service.
We have no hidden costs, limits, or trials, but we do provide a comprehensive selection of accounting software tools to help you run your company effortlessly. If you need any further information, please contact our online accountants, payroll experts, or VAT professionals.
Is it time to do a self-evaluation? For a one-time cost, the Crunch team can also complete and submit it to HMRC. We have a strong online system and highly experienced accountants to take the worry out of the figures.
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