Tax News
July 10, 2023
4 Minutes

Confirmation statements are the new annual returns

Sam Newton

Confirmation Statements have recently replaced Annual Returns as a way to keep Companies House up to date with company information. This new procedure is a streamlined and improved process that helps to make sure that information held on the public register is accurate.

Confirmation Statements are filed once a year and they replace the old-style Annual Returns. They are sent to Companies House to confirm that the information that is held about a company on the public register is correct. This includes company name, registered office address, directors' details, shareholder information, and other relevant details.

More recently they have added PSC’s a Person with Significant Control. A PSC is an individual, company or other entity who owns or controls your company. They are sometimes called ‘beneficial owners’. They have the right to exert significant influence, or control, over the business and management of a limited company or LLP. They tend to control 25% of the share or votes.

Companies no longer need to provide the same level of detail as they did with Annual Returns and they can now use a simpler form to complete the process which has made the process more efficient BUT its still really important this information is submitted on time and is accurate.

We see so many where the shareholding isn’t correctly effected or a directors home address is on public record. This is NOT good practice!

Confirmation Statements also make sure that companies are aware of any changes that may have been made to their information. This is important as it helps to ensure that any changes are reported to Companies House quickly.

Overall, Confirmation Statements provide a much easier and more efficient way of keeping companies' information up to date.

How can Gravitate Accounting Help?

We can submit your confirmation statement on your behalf for only £5 + VAT per month. We guarantee its right and submitted on time. We also offer a service where we can be listed as your registered office to save you having to list your residential address online.

Sam Newton

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