In June 2016, the UK government adopted confirmation statements to replace the clumsy annual return AR01 form. The confirmation statement is quite similar to the authorization statement and performs roughly the same thing, except it is faster and easier to file.
What is a confirmation statement and what is it used for?
A confirmation statement ensures that Companies House has the most up-to-date information concerning a limited company. its not intended to be means of information your organisation about any changes (which is a separate process). The confirmation statement is, in essence, a statement that affirms the accuracy of the material.
What distinguishes the previous yearly return from the new confirmation statement?
They’re nearly identical and include the same information, however, the current confirmation statement has a lot more detail on
People with Significant Control (PSCs). This publically available information reveals the persons engaged in a company’s management and ownership.
Registering a Person with Significant control
It’s essential that this information is reviewed regularly and always kept up to date, including:
- The person name
- Month and year of birth
- Country of residence
- Service and residential addresses
- The date they took a position of significant control with the company
it is also important to explain their position and standing in the organisation, and outline why they should be included as a PSC.
What types of organisations must complete a confirmation statement?
All UK limited companies and liability partnerships must file a confirmation statement at least once every 12 months, even if the company or partnership is dormant.
What if I don’t have any changes to report?
If nothing has changed since your last confirmation statement, then you don’t need to submit anything and can simply
check and confirm the existing information held on public record.
How do I go about filing a confirmation statement form?
Completing your confirmation statement online is the easiest way to submit your information to Companies House. Submitting online also means Companies House will pre-populate much of the form for you. So you only need to edit information rather then start from scratch.
if you would like to update any of the information companies houses folds for your company, you can do this in the
addtional information section of the form online. it can be used for updating your:
- Standard industrial classification (SIC) code
- Trading status of shares
- Shareholder information
- Statement of capital
- Exemption from having to keep a register of people with significant control
If you need to check the information that companies house already has about your company, you can do so using the Companies House service.
it costs £13 to file a confirmation statement online in any 12-month period. You’ll only have to pay the £13 fee once a year. So filing another one in the same period won’t result in an extra charge. if you decide to file a paper submission, the charge jumps to £40. it’s also more laborious without any of its pre-populated – plus the trip to the post box
Who within the company or partnership is responsible for completing the confirmation statement?
Larger or publicly owned companies will have a company secretary who will file the confirmation statement on the company’s behalf. if your company doesn’t have a secretary then any of the directors or another designated company member can file it instead.
No matter who takes on the responsibility, the most important thing is that the statement is filed with Companies House on time every year.
Filing your confirmation statement is a legal obligation and is not optional. There are serious consequences for directors, including fines and prosecution. if it’s not done. Failure to submit the statement on time might also cause the register to remove it from the company register.
Remember, your accountant may file o your behalf, but it’s still ultimately your responsibility.