Introduction

UK business compliance can be challenging, especially when it comes to filing essential documents like the confirmation statement. But don’t worry—we’re here to simplify it for you! In this post, we’ll explain what a confirmation statement is, why it’s important, and what information you need to file it correctly. By the end, you’ll be equipped with everything you need to keep your business compliant.

What is a Confirmation Statement?

Wondering what a confirmation statement is and why it’s so important? Let’s dive in!

A confirmation statement is a key aspect of business compliance for UK companies. Filed annually with Companies House, it provides a snapshot of general information about your company at a certain date, known as the ‘confirmation date.’ Think of the confirmation statement as an annual check-up for your company’s information, ensuring everything is accurate and up-to-date.

Why is the Confirmation Statement Important?

Filing a confirmation statement isn’t just a legal obligation; it’s crucial for maintaining your business’s good standing. Here’s why it matters:

• Ensures Business Compliance: Keeps your company’s information accurate and up-to-date in public records.
• Avoids Penalties: Prevents fines and legal repercussions for late or inaccurate filings.
• Enhances Transparency: Builds trust with stakeholders by ensuring public records reflect your company’s current status.

When Should a Confirmation Statement be Filed?

The confirmation statement must be filed at least once every 12 months. Companies have 14 days from the end of the review period to submit their confirmation statement. Missing the deadline can result in penalties and, in severe cases, your company being struck off the register.

What Information is Required for a Confirmation Statement?

To file a confirmation statement, you’ll need to provide various pieces of information about your company. Here’s a detailed breakdown:

Company Information

• Company Name and Registration Number: Ensure the name and registration number are correctly listed.
• Principal Business Activities: Update any changes in your company’s SIC (Standard Industrial Classification) codes that describe your business activities.

Shareholder Information

• List of Shareholders: Current list of shareholders at the confirmation date.
• Shareholding Structure and Changes: Details of any changes in the shareholding structure, including new shares issued or shares transferred.

Director and Secretary Information

• Details of Current Directors and Secretary: Names, addresses, and other relevant details of the directors and secretary.
• Changes in Directorship: Any appointments, resignations, or changes in personal details of directors and secretary.

Persons with Significant Control (PSC)

• Definition and Identification of PSCs: Individuals or legal entities that have significant control over the company.
• PSC Details and Changes: Names, dates of birth, nationalities, and details of control held by PSCs.

How to File a Confirmation Statement?

Filing a confirmation statement can be done online or via paper forms. Here’s a step-by-step guide for online filing:

1. Log in to Companies House WebFiling service.
2. Select the confirmation statement (CS01) form.
3. Review and update the information.
4. Submit the form and pay the filing fee.

Ensure that all details are accurate to avoid common mistakes that could lead to delays or penalties.

What Happens After Filing?

Once filed, Companies House will confirm the receipt of your confirmation statement. They will update the public register accordingly. It’s crucial to monitor and ensure that the information remains accurate and to update it if any changes occur throughout the year.

Conclusion

Filing a confirmation statement is a fundamental requirement for maintaining business compliance in the UK. Timely and accurate filing helps avoid legal issues and ensures that your company’s public records are up-to-date. Don’t let compliance stress you out. Subscribe to our confirmation statement filling service to ensure your confirmation statement is filed accurately and on time!

For more on business compliance, check out our guide on filing annual accounts. If you need assistance with filing your confirmation statement or other compliance matters, Xact+ is here to help. Our professional team can ensure that all your regulatory obligations are met seamlessly.