What is a Confirmation statement, and how to file it?
If you’re a limited company or a Limited liability partnership (LLP) here in the UK, you must file a confirmation statement with Companies House once a year. This requirement also applies to dormant companies that are currently not trading.
What is a confirmation statement?
A confirmation statement, previously known as an “Annual return” is a document submitted to Companies House to provide updates about your company in case any changes have occurred. In simple terms, the purpose of a confirmation statement is to ensure that Companies House has all your up-to-date information, including:
1. Registered office address
2. Directors, shareholders and secretary
3. People with significant control (PSC)
4. Class of shares
5. Standard Industrial Classification (SIC) codes
Remember, if any of the above information changes, you must update it when filing your confirmation statement.
How to file a confirmation statement?
The quickest and easiest way to file a confirmation statement is online. Other options include by post (CS01), or through a verified company formation agent.
To submit your confirmation statement online, you’ll need to have an account with Companies House and your authentication code.
Important note: You must remember to submit your confirmation statement every year. If you don’t send it on time, you could be prosecuted.
Is there a fee for filing a confirmation statement?
Yes, there is a fee required when filing a confirmation statement. If you choose to submit it online, the cost is £13. However, if you prefer to submit it on paper, the fee is higher at £40. It is advisable to consider the online filing option, as it is more cost-effective, saving you £27 compared to the paper filing alternative. This not only saves you money but also eliminates the need for a trip to the post office.
When to file a confirmation statement?
The confirmation statement must be filed at least once every 12 months to fulfill your legal obligation and avoid potential repercussions. After your 12-month review period, you have 14 days to file your confirmation statement.
For example, if you formed your company on 10 June 2022, your 12-month review would end on 09 June 2023, making your filing deadline 24th June 2023.
It’s essential to note that you must file a confirmation statement even if no changes have occurred in your company.
What if I forget to file my confirmation statement?
If you forget to file your confirmation statement within the 14-day time period, it’s important to take swift action and rectify the issue. While there isn’t an immediate financial penalty for filing your confirmation statement late, failing to do so is considered a criminal offense.
Keep in mind that you can check your confirmation statement due date online on the Companies House website. Simply type your company name into the “Company search” tool.
What is the difference between a confirmation statement and an annual account?
Both the confirmation statement and annual accounts are mandatory annual filings, each serving distinct roles in providing a comprehensive overview of a company’s status.
• Confirmation statement: This filing, submitted to Companies House, serves as an update on structural aspects like the company’s address, directors and shareholders. It ensures that the public record reflects the most current information regarding the company’s structure.
• Annual accounts: Also filed with Companies House, provides a financial snapshot of the company, including profit and loss, cash flow, and balance sheet. The annual primarily focuses on the company’s financial performance.
Both the confirmation statement and annual accounts are crucial and must be filed within the designated period. Failing to submit them can lead to legal consequences.
Conclusion
Now that you are familiar with what a confirmation statement entails, it becomes evident that filing this statement is a crucial responsibility. For limited companies or Limited liability partnerships, setting reminders for timely submission is wise, as missing the deadline could lead to prosecution.
Furthermore, as the company director, you are responsible for the accuracy of the information that is submitted to Companies House.
Got a question?
If you have any inquiries regarding the confirmation statement or need guidance on the filing process, feel free to reach out to us. Whether you’re seeking clarification on specific details or require additional information, our team is here to assist you.
