Who needs to submit a Confirmation Statement?
Posted on 26th February 2020 at 18:12
Every company, including dormant and non-trading companies, needs to send a Confirmation Statement to Companies House once a year so that they can be sure they hold the correct information.
If you don’t send your Confirmation Statement to Companies House on time, you could be prosecuted – so it’s important you know what you need to do, and when.
What is the Confirmation Statement?
Companies House introduced the annual Confirmation Statement in June 2016. It’s intended to streamline the process of reporting information about your company. Before it was introduced, you had to send a snapshot of your company once a year, called an annual return.
All limited companies and limited liability partnerships must submit a Statement once every 12 months (at least). If nothing has changed you can simply ‘check and confirm’ that all the details are correct.
How to file a Confirmation Statement
You can use the Companies House WebFiling service. If you need to make any changes to your company’s information, you can do this in the ‘additional information’ section of the online form.
You can use it to update your:
• Standard Industrial Classification (SIC) code
• statement of capital
• trading status of shares
• exemption from keeping a register of people with significant control
• shareholder information.
You can search the Companies House register to check the information that is held about your company.
Paying the Confirmation Statement fee
The annual fee for your Confirmation Statement is £13 and the form will be pre-populated with current information, making it easy to complete. If you need to amend your information during the year, you won’t have to pay another fee. If you file a paper form the cost is £40.
When to send your confirmation statement
Companies House asks you to send them a Confirmation Statement at least once a year, at any time during your ‘review period’. For new companies, the review period starts at the date of incorporation and ends 12 months later. For example, if you incorporated your business on 1 January 2020, the review period will end on 31 December 2020.
For existing companies, the review period starts the day after you filed your last Confirmation Statement and it will end 12 months later.
If you make your Confirmation Statement early you will start a new review period that will end 12 months later.
An overdue Confirmation Statement
Your Confirmation Statement should be received by Companies House within 14 days of the end of your review period.
If you miss the deadline, Companies House will send a warning letter. Then, if you don’t respond to the warnings you receive, you will be committing a criminal offence. The Registrar has enforcement powers which include the option to remove your company from the register. If this happens, your company won’t exist anymore and, more importantly, any assets that your company holds will become Crown property. Company directors and other officers can be prosecuted and severely fined because they are responsible for making sure your company meets its statutory obligations.
This applies even if you have a dormant company but plan to trade in the future.
Charges for late submission of your Confirmation Statement
There isn’t a penalty fine for missing your Confirmation Statement deadline but if you don’t make your submission Companies House could start legal action against you.
Working with a professional bookkeeper and accountant is the best way to make sure that this and other important deadlines aren’t missed. Contact us if you would like to know more.
Tagged as: accounting
Share this post: