What is an annual return/Confirmation Statement and do i need to complete one?
Updated July 2016.
You may be aware that the rules have changed about annual returns. From 30th June 2016, confirmation statements now replace the annual return.
What is the difference between and annual return and a confirmation statement?
The confirmation statement is basically the same thing as an annual return and provides a way to keep Companies House up to date with any changes that may have happened within your company that will need updating on the public register.
The only main difference between a confirmation statement and the old annual return is that instead of sending Companies House a snapshot of your company data each year by a specific date, you now simply check and confirm that the current information being held about you is correct and accurate.
However, when sending in your very first confirmation statement to Companies House, you will now have to include the information you hold about the people with significant control of your company. This is called your PSC register and is a recent introduction. You can find out more information about PSC registers at the Companies House blog here.
The confirmation statement is aimed at making record keeping much simpler. To complete your confirmation statement you only need to check to see if the information already being held about your company at Companies House is correct.
If there have been any changes, such as you have added new shareholders, you have amended the statement of capital or changed your SIC code, then you can notify Companies House via your confirmation statement.
If you have changed your registered office address you will need to complete a separate form for this and send it in with your confirmation statement.
What does this cost?
Don’t worry, the fee for submitting your confirmation statement is exactly the same price as your annual return – £40.00 when filed on paper or £13.00 when filed online. The fees are payable once per year and you will be covered for a whole 12 months, so if you need to file any more confirmation statements during this time, you will not have to pay to do so.
The only other notable change for you to be aware of is that with a confirmation statement you only get a 14 day grace period in which to file your statement. Under the old annual return system you had a 28 day grace period, so it is worth noting down a reminder in your diary or on your calendar.
Who needs to submit an annual return or confirmation statement?
A Limited company is required to post an annual return to Companies House. (This has now been changed to a confirmation statement). This is a legal requirement and is a snapshot of important key company information. Your company will be given a return date upon completion of the formation of your Limited Company. The date will depend on the date your company is formed.
The confirmation statement has to be updated every 12 months, the date we recommend filing is every anniversary, so this means every 12 months from the date of incorporation. However you can update the confirmation statement as much as needed. We would recommend updating sooner, if some major changes have taken place. This could be a change of address, directors, majority shareholders changing etc.
The main requirements for the confirmation statement are as follows:
- To show your company name
- To display your company registered number
- The legal annual return date
- The activity of the business, called the principal business activity
- Whether it`s a Limited Company or Public Company
- The address the company is registered at – you can use our registered office address
- The directors details
- The companies share details, including share holders
- A statement of capital
How can we help you?
Well that`s a good question! We have a vast amount of experience when it comes to forming companies. We have been forming companies since the early 70’s, so you can imagine that we have a fair bit of experience when it comes to advising and guiding our clients about what is best for their business.
Each person we deal with has individual needs and no two clients are the same. We can help prepare a confirmation statement for you, we can help form your company, and we can help provide services such as a registered office address and mail forwarding accounts that can really help to support and boost your business.
If you are unsure about what you need, please do get in touch with us today; we are always happy to help and can certainly help clear any grey areas.