Tax News
July 10, 2023
  •  
4 Minutes

Confirmation statements are the new annual returns

Sam Newton
Co-founder

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.


Looking for an accountant who understands the digital world?
Get in touch with us
Recent articles you may like:
Back to blog home
Sam Newton
Linkedin

Subscribe to Gravitate

Get industry insights that you won't delete, straight in your inbox.
We use contact information you provide to us to contact you about our relevant content, products, and services. You may unsubscribe from these communications at any time.

More news

Autumn Budget 2024 - A Summary

Join Co-Founder Sam Newton as he shares his thoughts on this years Autumn Budget Statement.

Read Article

Tips to Help You Manage Your Email Inbox

Don't lose control of you inbox with these 8 tips!

Read Article

Understanding The Cost Of Debt

Understanding the cost of debt empowers you to make smart financial decisions for your business. Find out more in our blog!

Read Article

What Are The Benefits Of A Holding Company?

Find out what a holding company is, the advantages of setting one up along with some potential disadvantages in our latest blog!

Read Article

What changes can we expect with the Labour government and from the October 2024 budget?

Take a read to find out what changes we can expect from the new Labour government and from the October 2024 budget!

Read Article

Optimising Tax Efficiency: Salary Strategies for Directors in 2024-2025

It's important to align your salary strategy with your broader financial goals. Learn how to optimise your finances here!

Read Article

What are the biggest impactors of a Business Valuation?

Understanding the key factors of business valuation will help give you a competitive edge!

Read Article

What is Working Capital in Mergers and Acquisition Transactions?

Working capital plays a big role in the final price when selling your business! Read to find out more!

Read Article