What is a Confirmation Statement?
A Confirmation Statement is a brief description of a company’s general information about certain high-level employees, shareholders, share capital, and the registered office address.
Every director of a company possesses a legal duty to file for a Confirmation Statement on time, even if their company has not been trading or if they do not have any other investments.
The process of updating Companies House of your business’ general information is far more efficient now that you no longer have to fill out company details as you would have for an Annual Return. A simple ‘check and confirm’ is all that is needed to complete a Confirmation Statement.
When should I submit one?
This will vary for each company as it wholly depends on when your business was incorporated. The date in which a Confirmation Statement is due is usually 12 months after the date your company was incorporated, or the date you last submitted a Confirmation Statement.
Companies House will send you a reminder to submit your business’ Confirmation Statement and you will have up to 14 days after the due date to file for one.
Failing to file a Confirmation Statement on time can result in Companies House removing your company’s information from the register, and a £5,000 fine. It is a criminal offense to not file for one, so make sure that this form is submitted and filed on time.
What should I include in a Confirmation Statement?
Before filing one to the Companies House, you must make sure that your company’s general information is up to date.
You can choose to submit one online, or you can send a paper form. Both options have different annual fees.
A Confirmation Statement must include the following:
- Company Name;
- Company Type;
- Company Registration Number;
- Details of Company Directors and Secretaries;
- People of significant control (PSC);
- Registered Office Address and other addresses where records are kept;
- Statement of Capital and Shareholders’ Information;
- Your Standard Industrial Classification (SIC) code.
Can I make any changes when filing for a Confirmation Statement?
According to Companies House, you can file the following changes:
- Standard Industrial Classification code;
- Statement of capital;
- Trading status of shares;
- Exemption from keeping a PSC register;
- Shareholder information.
Keep in mind that there are many changes that cannot be implemented when filing a Confirmation Statement, and you should be prepared to make changes before filing one to Companies House.
What happens if I do not submit a Confirmation Statement?
As mentioned previously, is it a company director’s legal duty to file for one, failure to do so will not benefit the company in any way as it can lead to the company:
- Being removed from the register (all information regarding your company will be erased);
- Receiving a hefty fine of £5,000.
You may restore your company if it has been removed from the register by Companies House. However, during the process of the company’s restoration, you are only able to file the Confirmation Statement by post which will cost £40 as opposed to £13 when submitting it online.
We understand how difficult it can be for your company to handle these duties but here at Persona Finance, we are determined to simplify your accounting requirements by offering essential remote accounting and business services. Contact Persona Finance now at [email@example.com] if you require any help with your company’s Confirmation Statement or if you have other accounting/ business queries.