Confirmation Statement Guide
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Being able to run a business is great, but it also means you have certain responsibilities that need to be carried out. One of these is submitting your annual confirmation statement.
Our comprehensive guide will explain everything you need to know about confirmation statements, including when you should submit them and what information to include.
What is a confirmation statement?
To ensure that Companies House has your most up-to-date company information, you must file a yearly confirmation statement.
This document states whether there have been any changes to your company’s information since its last filing.
How to complete a confirmation statement
To complete a confirmation statement, you must verify the following information:
- Information about your registered office, directors, secretary, and where your records are stored.
- If your firm has shares: The capitalisation statement and list of shareholders.
- The Company SIC code
What is a SIC code?
The number that specifies the activities that your company engages in
Do you need help determining your SIC code? Find out here
What a register of ‘people with significant control
The People with Significant Control (PSC) register displays information about the people who own or govern companies, such as their:
- Name
- Month and year of birth
- Nationality
- Details about their interest in the company
Who is a Person of Significant Control
PSCs are individuals who:
- Possess more than 25% of the company’s shares or voting rights
- Have the power to hire or fire the majority of the company’s board of directors
- Is authorised to have significant control or influence over a business or other entity, such as a trust
Can I use the confirmation statement to report changes?
The confirmation statement allows you to record specific changes to your company’s data, such as:
- SIC codes
- Shareholder details
- Statement of capital
- Trading status of shares
- Exemptions from keeping a PSC register
You can’t change the following:
- Your company’s officers
- The registered office addresses
- The address where records are kept
- People with significant control (PSC)
Any changes to the above data since your previous filing must be reported to Companies House using the appropriate forms.
When are confirmation statements due?
Every 12 months, you are required to submit at least one confirmation statement. Your twelve-month evaluation period begins on either:
- The date your business was established
- The date of your most recent confirmation statement submission
Confirmation statements may be submitted up to 14 days beyond the due date.
Also Read: Five reasons why your small business has stopped growing
Example
If your new business is formally established on the 1st of January 2022.
Your review period will run from the 1st of January 2022 to the 31st of December 2022.
Can I submit it sooner?
A statement may be submitted at any time during the review period. An early confirmation statement filing will trigger a new 12-month review period.
Example
If your new business is formally established on the 1st of January 2022.
You decide to file on the 31st of May 2022 as opposed to the 31st of December 2022.
Your next review period will start on the 1st of June 2022 and end on the 31st of May 2023.
How do I file a confirmation statement?
You can file a confirmation statement online or by post.
What is the cost of submission?
| Submission type | Price |
|---|---|
| Online filing | £13 |
| Postal filing (A cheque with your company’s number written on the back should be included.) | £40 |
Online submission
You will need a password and an authentication code from Companies House to submit electronically. (You can register for one if you don’t already have one.)
Once you have a password and authentication code, you can now move on to submit online.
Did you know?
You may sign up for email notifications if you want to be reminded when it’s time to submit your confirmation statement.
Postal submission
You may get a confirmation statement form online, fill it out, and send it to Companies House using the address provided on the form.
If you want to change information about your company, you will need to download and fill out parts 1 – 4.
What if there are no changes?
Confirmation statement filing is mandatory even if no changes have occurred in your company during the review period. This ensures that the information you have on file is current and correct.
Who is responsible for filing?
Directors must ensure that all legal documents, such as statutory accounts and confirmation statements, are filed with Companies House.
Penalties for late filing
Your business can be fined up to £5,000, and its officials are at risk of legal action if you do not submit your statement within 14 days after the conclusion of your review period; it is also possible that your business’s name may be removed from the register.
Conclusion
Confirmation statements are mandatory to ensure the company’s house has updated details for your company. By filing on time, you can avoid fines and legal action.
Fusion accountants are experts in companies’ house filing, helping you avoid penalties and fines; get in touch to find out more.
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