Essential Guide to the Companies House Confirmation Statement Filing Process
Picture yourself in the driver’s seat of a successfully registered company, navigating the legal landscape with confidence. One essential pitstop on your journey is the annual Companies House confirmation statement filing. But fear not! This comprehensive guide will walk you through the process, ensuring smooth sailing for your company’s compliance journey.
Overview:
Understanding the Confirmation Statement
Company compliance may seem complex, but the confirmation statement serves as a guide through this process. This key document verifies the correctness of your company’s records at Companies House. All registered companies, from LLPs to non-profit organizations, must submit their first confirmation statement and subsequent ones at least once annually using the appropriate Companies House form.
Think of the confirmation statement as a snapshot of your company’s current situation, capturing details such as the registered office address, and any changes in officers’ particulars or share capital. Filing the statement confirms that your company’s information is up-to-date, ensuring your business remains in good standing with Companies House.
Purpose of the Confirmation Statement
The confirmation statement, which replaced the annual return as of 30th June 2016, serves a significant role. It acts as a yearly affirmation that your company’s information is accurate and up-to-date. This applies even if there have been no changes to your company since its last confirmation statement or incorporation; the confirmation statement still serves exactly the same purpose as the annual return of verifying your company’s information.
This seemingly small task carries significant weight, as it distinguishes the confirmation statement from annual accounts. While annual accounts provide a financial overview of your company, the confirmation statement ensures that your company’s records are current and accurate. If any information on record is inaccurate or outdated, it must be updated before submitting the confirmation statement.
Who Needs to Submit a Confirmation Statement
So, who must submit a confirmation statement? The answer is simple: every registered company, regardless of its type or status. This includes:
LTD or LLP companies
Non-profit organizations
Foreign companies operating in the UK
Companies in liquidation
For all companies, maintaining compliance is necessary as failure to submit a confirmation statement could lead to penalties or even deregistration. By ensuring your company submits a confirmation statement on time, you are taking a significant step toward maintaining your company’s good standing and avoiding potential legal repercussions.
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Filing Requirements and Deadlines
In the realm of company compliance, timing holds great importance. Understanding the deadlines and periods associated with filing a confirmation statement is crucial to keeping your company on track. The annual filing deadline in the UK requires companies to file their confirmation statement within 14 days of the due date.
There are two key timeframes to keep in mind: the review period and the payment period. The review period commences on either the date of your company’s formation or the statement date of the preceding confirmation statement. The company’s payment period starts typically 365 days from the date of incorporation, with the confirmation statement due every 12 months.
Annual Filing Deadline
Mark your calendars and set your reminders! The annual filing deadline for a confirmation statement in the UK is no later than 14 days after the expiration of the 12-month review period. This means that, even if no changes have occurred within your company since its last statement or incorporation, you must still submit a confirmation statement to confirm the accuracy of your company’s information.
Remember, the confirmation statement date is the date by which your company must confirm that its information registered at Companies House is accurate. Maintaining punctuality in submitting your confirmation statement not only meets your legal obligations but also preserves your company’s reputation and helps avoid penalties.
Review Periods and Payment Periods
The difference between review periods and payment periods might raise a question in your mind. The review period for filing a confirmation statement is 12 months, beginning on either the date of your company’s formation or the statement date of the previous confirmation statement. The confirmation statement must be filed within 14 days after the conclusion of this review period.
The payment period for a confirmation statement, on the other hand, runs for a duration of 12 months, commencing from either the incorporation date or the last payment. A fee is incurred annually for filing a confirmation statement, regardless of the number of confirmation statements filed within that 12-month review period. So, whether you file one or multiple confirmation statements within the payment period, you only need to pay the annual fee once.
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Preparing Your Confirmation Statement
With an understanding of the confirmation statement’s significance and deadlines, you can now start preparing for filing. To do this, you must gather the necessary information and update your company records before submission.
The confirmation statement should initially include the following company details:
Company name
Company number (Registration number)
Confirmation date
Signature of either a director or the company secretary
This information is necessary to ensure that the statement is legitimate and legally binding. It’s important to verify the accuracy of your company’s details and make any necessary updates to the records prior to filing. These steps guarantee a streamlined and compliant filing process.
Information to Include
When preparing your confirmation statement, it’s essential to include accurate and up-to-date information registered at Companies House. This means you must verify the following information:
The company’s registered office address
Directors
Shareholders
Share capital
While some information cannot be altered directly through the confirmation statement, additional information may be included, such as updates to your company’s capital trading status and significant control. For instance, you can update the Standard Industrial Classification (SIC) codes and particulars regarding shares and shareholders. By carefully reviewing and including all required details in your confirmation statement, you can ensure a successful submission and maintain your company’s compliance.
Updating Company Records Before Filing
Prior to filing your confirmation statement, it’s important to update any outdated or incorrect information in your company records. This includes amending details such as:
your company’s registered office address
directors
shareholders
share capital
It’s essential to keep your company records current and accurate, as failing to do so can lead to penalties and even prosecution. By updating your company’s information prior to submitting your confirmation statement, you can ensure that your company remains in good standing and adheres to all legal requirements.
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Filing Methods and Fees
With the confirmation statement prepared and company records updated, it’s time to consider your options to file confirmation statement. There are two main methods for submitting a confirmation statement: online and paper filing. Each method has its advantages and disadvantages, as well as associated fees.
Understanding the different filing methods and fees can help you choose the best option for your company and ensure a smooth, compliant submission. Let’s examine the methods of online and paper filing, along with the respective fees.
Online Filing
In the current digital era, online filing is a popular and convenient method for submitting your confirmation statement. To file online, you’ll need to provide your password and authentication code. Filing electronically is faster and more cost-effective than paper filing, with an online submission fee of just £13.
Online submission of your confirmation statement not only conserves time and money but also helps in maintaining organization and a digital record of your company’s compliance. By choosing the online filing method, you can ensure a seamless and efficient filing process for your company.
Paper Filing
Though online filing is the more convenient option, some companies may still choose to file their confirmation statement via paper. To do so, you must complete the paper form CS01 and submit it to Companies House. The filing fee for a paper confirmation statement is £40, which is significantly higher than the online filing fee.
Even though paper filing might be suitable for some companies, considering its drawbacks is important. Compared to electronic filing, paper filing has the following disadvantages:
It is more time-consuming and expensive.
The processing time for a paper confirmation statement can be longer than online filing.
It is crucial to submit your form at least 14 days prior to the due date to ensure timely processing.
Filing Fees
Regardless of the method you choose, filing a confirmation statement comes with an annual filing fee. As mentioned earlier, the fee for an online submission is £13, while the fee for a paper filing is £40. These fees are annual, requiring payment only once every 12 months, regardless of the number of confirmation statements filed within that year.
It’s worth noting that filing fees for the confirmation statement are separate from any extra costs incurred due to updates or changes in your company’s records. By staying informed about the fees and filing methods available, you can make the best decision for your company and ensure a successful and compliant submission.
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Consequences of Late or Non-Filing
Adhering to the confirmation statement filing deadlines is key to preserving your company’s reputation and evading legal consequences. Failing to file the confirmation statement on time can have a negative effect on your company’s credit rating and legal standing. Moreover, not filing the statement at all is considered a criminal offense and can result in prosecution or even deregistration.
It’s important to be aware of the potential consequences of late or non-filing, as they can have a significant impact on your company and its future. By staying vigilant and submitting your confirmation statement on time, you can avoid these pitfalls and ensure your company’s continued success.
Late Filing Implications
Late filing of your confirmation statement can lead to extensive consequences for your company. Late filing can result in a marked credit score, which may affect your company’s reputation and credibility with banks, suppliers, and other stakeholders. Additionally, late filing may lead to the dissolution of your company, as Companies House may take steps to strike off your company if the confirmation statement is not filed within a certain period of time.
Moreover, failing to file your confirmation statement on time is a criminal offense, and directors may be subject to personal fines in the criminal courts. A prompt submission of your confirmation statement can help uphold your company’s reputation, safeguard its credit rating, and steer clear of possible legal implications.
Non-Filing Risks
Failure to file a confirmation statement poses considerable risks for your company and its officers. Companies House may prosecute both the company and its officers for non-filing, and the company may be removed from the register. The consequences of not filing a confirmation statement can range from criminal prosecution to deregistration, both of which can have a lasting impact on your company’s future.
Keeping abreast of the deadlines and requirements for filing a confirmation statement helps your company stay compliant and avoid risks associated with non-filing. Remember, your company’s success and good standing rely on your diligence and adherence to these important filing requirements.
Confirmation Statement for Dormant Companies
Dormant companies, or those not currently engaged in any business activity or generating income, are not exempt from filing a confirmation statement. These companies must still submit annual confirmation statements to Companies House, ensuring that their records remain accurate and up-to-date.
Awareness of the filing requirements for dormant companies helps you keep your company compliant and evade possible penalties or legal complications.
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Email Reminders and Staying Compliant
To ensure punctual filing of your confirmation statement, consider signing up for email reminders from Companies House. These email notifications can help you stay on top of your filing obligations and ensure that you submit your confirmation statement on time.
By enrolling in email reminders, you can take a proactive approach to maintaining your company’s compliance and safeguard its good standing with Companies House.
Conclusion
In conclusion, filing a confirmation statement is a vital part of maintaining your company’s compliance and good standing. By understanding the purpose and requirements of the confirmation statement, staying aware of filing deadlines, and choosing the best filing method for your company, you can ensure a successful and compliant submission. Remember, your company’s success depends on your commitment to staying informed and proactive in meeting these important legal obligations.
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FAQs
A confirmation statement (aka Companies House form CS01) is a document containing all the key information about a company’s management, ownership and activities, which must be filed at least once a year by all LTD or LLP companies, even if the company is dormant or non-trading.
No, your accountant does not file your confirmation statement for you – it is ultimately your responsibility. However, they can assist in the filing process.
The cost to file your confirmation statement online is £13, or you can opt for a paper form for a cost of £40.
A confirmation statement is used to confirm the accuracy of a company’s records with Companies House and to update them on any changes.
A confirmation statement must be filed at least once a year.
