What is the Confirmation Statement?
From 30 June 2016, the Confirmation Statement replaces the Annual Return for businesses. But what does this mean and how does it affect you and your business?
How is the Confirmation Statement different from the Annual Return?
The confirmation statement is intended to deliver the same purpose as the annual return, which is 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 your company data at a specific date, you now only need to ‘check and confirm’ the information that is held is still accurate. This means that once a year you can review your details and advise if there have been any changes. A major difference is that in your first confirmation statement you will also need to include the information held regarding your people with significant control (PSC) register. You can find out more about PSC registers on the Companies House Blog.
What do you need to include in your Confirmation Statement?
To complete your first confirmation statement, you just need to check the information about your company is correct and fully up to date. If you need to update your shareholders’ info, change your company’s SIC code or amend the statement of capital, you can do this with your confirmation statement. For any other changes, eg a new registered office address, you’ll need to complete a separate form and submit it at the same time. Also, as mentioned above, you’ll need to include details of your PSC register.
Confirmation Statements will replace annual returns for both LLPs and companies. LLPs (or companies for that matter) will never have to file both an annual return and a confirmation statement for the same period. The way this works is that if your next annual return is made up to 30 June 2016 or later then you will need to file a confirmation statement for that period instead.
Company directors, company secretaries and designated LLP members are legally responsible for ensuring a confirmation statement is delivered to Companies House, either online or by post, each year. It must reach Companies House no later than 14 days after the confirmation date.