Companies House Annual Confirmation Statement

confirmation statement

What is the confirmation statement?

On the 30th June 2016, the annual return was replaced by the confirmation statement. Limited companies now have to submit the latter instead of the former when they update information on the public register.

If you’re not familiar with the changes, then we advise that you should learn them promptly. You can no longer send an annual return. So what is the confirmation statement, and how is it important for your limited company?

What’s The Difference?

While the purpose of the new declaration isn’t that different as you are still providing information about your business, there are some subtle variations. For instance, instead of providing a snapshot view of your business at a specific date, you will now check your information held on the public register and just make changes before confirming the information is accurate.

The second notable difference is that the confirmation statement requires you to disclose information on those registered on your significant control register. This was a new requirement for limited companies as of March 2016.

You can find out more about your duties with regards to the PSC register here.

What Is Required For A Confirmation Statement?

The most significant thing about the confirmation statement is that you don’t have to complete all the data again. Therefore, it could save you a considerable amount of time. In fact, your only responsibility is to ensure that your company’s information is correct and fully up-to-date.

Any changes to your SIC code, statement of capital or shareholder information can be made with the confirmation statement. If you’ve changed your registered office address, you’ll also need to complete a separate form. The submission of this document should be made at the same time as your confirmation statement.

The confirmation statement is relatively easy to complete, and the best way to file it is to do it online. This is also the least expensive option.

What Are The Costs And When Do I Submit?

There is a yearly fee of £13 when filed online, and £40 when filed on paper. This fee allows you to submit as many confirmation statements as you like during a twelve-month period. Once this period is up, you’ll be reminded to resubmit payment.

Your confirmation statement has the same submission requirements as your annual return. Whatever your made-up date was, that stays the same. The only difference is that the 28-day grace period has now been halved, and you only have 14 days to file your confirmation statement.

New Firm?

If you are a new firm looking for incorporation, then there are also changes. There is a new version of the IN01 for paper applications, and online versions also have additional questions. Any requests for incorporation will also need to be accompanied by details of PSCs and the reason why they are included on that register.

In addition, new firms will have to disclose at least one (and a maximum of four) SIC codes to describe the firm’s principle activity. This was not previously required.

Fees for incorporation are also reducing. For the Companies House web Incorporation service, the price is now £12, not £15. Those using third party software will pay £10.

If you are looking for help with your businesses Incorporation or help with your confirmation statement, contact the Ovenden Bookkeeping and Accounting team. We’ll be happy to support you as you adapt to these changes.

Posted in HMRC at 2016-07-19 by Alan Ovenden