Say goodbye to annual return! - | Hudson McKenzie

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Say goodbye to annual return!

From 30th June 2016, all UK based companies and LLPs will be required to deliver a “confirmation statement” to Companies House instead of an annual return. This must be filed at least once every 12 months and serves the same purpose as the annual return.

What is the ‘confirmation statement’ and how is it different from the annual return?

The confirmation statement asks for companies to provide up-to-date information for inclusion on the public register. However, one main difference is that rather than providing a snapshot of the company data at a specific date, you would now be required ‘check and confirm’ the information Companies House holds is accurate. This means that once a year details can be reviewed and any changes can be captured. Another notable difference is that in the first confirmation statement companies and LLP’s would also need to include the information held in the people with significant control (PSC) register. For more information about this, please see our previous article People with significant influence or control.

What do you need to include in your confirmation statement?

To complete your confirmation statement, you just need to check the information that Companies House holds about your company is correct and fully up to date. If you need to update your shareholders’ information, change your company’s SIC code or amend the statement of capital, you can do this with your confirmation statement. For any other changes, e.g. a new registered office address, you’ll need to complete a separate form and submit it at the same time as your confirmation statement.

Will this cost more than the annual return?

The fee for the confirmation statement will be the same as the annual return: £13 when filed online or £40 when filed on paper. You will only have to pay the fee once a year and this will cover you for a 12-month period. During those 12 months, you can file as many confirmation statements as you want without having to pay the fee again.

When do I need to file my confirmation statement?

From 30 June onwards you’ll need to file a confirmation statement instead of an annual return. For example, if your most recent annual return was made up to 30 September 2015, the review period for your first confirmation statement will end one year later, on 30 September 2016. Additionally, please be aware that the 28-day grace period has changed to 14 days, so a confirmation statement made for 30 September 2016 must be filed by 14 October 2016. We’ll send out a handy reminder in advance of your filing

Annual return due in June?

If your made up date is between now and 30 June 2016, you will still need to file an annual return. For example, if your made up date is 20 June 2016, you will have until 18 July 2016 to file your annual return (due to the annual return’s 28-day grace period).

However, if your made up date is after 30 June 2016, you will need to file a confirmation statement. For example, if your made up date is 12 July 2016, you’ll have until 26 July 2016 to file your confirmation statement (due to the confirmation statement’s 14-day grace period).

For further information, please contact our commercial lawyers in London on 020 3318 5794 or via email at londoninfo@hudsonmckenzie.com

Source: Gov.UK

 

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