As we know, many Private Limited Companies are running in the UK but let me tell you that they all need to submit Confirmation Statement in the Companies house to run their business successfully. If they are not following the deadlines of submission, they may face company closure. Yes, it sounds horrible but it is completely true. If you are here to know about the Company Statement and how to file it then you are in the right place, we are providing you the complete information about it.
What is a Confirmation Statement?
A confirmation statement is a type of document that should be submitted by all the Private Limited and LLP to the company house. In this document, the owner has to provide all the company-related details like ownership, activities, shareholders, and capital of the company. The confirmation statement is to be submitted once every 12 months
The confirmation statement came in 2016 in the UK and before it was an annual return. The changes made so that users can be provided more convenience, earlier, a user needs to fill in all details every time but confirmation statement requires your details only once. But users need to make sure that they are providing the correct details to the company house so that no issues can arise in the future.
How to Complete a Confirmation Statement?
To complete the confirmation statement, a user needs to provide all the relevant details related to their company. It’s the responsibility of the owner to submit all the details within time with the correct information. They have to provide the details of the employees working. So these are the things that are presented in Confirmation Statement.
- Company name with a Registration number.
- Address of the company.
- All the details about directors and secretaries.
- All the information about the people having significant control.
- Nature of Business details
- Shareholders details
- LLP members details
- Alternative address of the company
- Principal business activity
These are the things that the owner has to fill in the confirmation statement, the owner is responsible for all these works and the director also has the same responsibility to do that. We are also providing a confirmation statement filing service, so if the users have any queries then they may let us know below the article. In addition to that, before submitting all the details, the owner also has to focus on the changes made by the company and the information submitted to the company house. The owner has to provide the details of the changes to the Company House including,
- Change of directors or any other personal details.
- Changes to the company’s address.
- Changes in share structure.
- Changes to the PSC details.
When a Company Provides the Confirmation Statement?
A company has to provide a confirmation statement every 12 months. If there is a new formation of a company then they need to provide it just after 12 months after its formation. Like, if a company is open in July 2021 then they have to submit the confirmation statement in July 2022. The company will get 14 days to submit the confirmation details or have to update the details.
The owner can submit these details anytime in 12 months period but when they will pay, their new review period will start from that day for 12 months. There is no limit to submitting a confirmation statement, the owner can send it as many times as they want.
What if the owner has not submitted the Confirmation Statement?
There is a time limit of 14 days from the due date in which a user has to submit the confirmation statement. If they are unable to do then it will be called a serious offense, they may bear huge trouble. The directors of the company can get their resignation letter and the company may also dissolve because of their irresponsibility. So it is always recommended to submit the details timely to avoid penalties.
How to File Confirmation Statement and how does it cost?
Filling the Confirmation Statement is not a big task at all but submitting it is necessary as an owner runs their company. The best way to fill in the confirmation statement is to do it via Web Filling, the companies House services where a user needs to register their account. The other way to fill in the details is to post the forms. Some agents are also providing these services, they will submit a confirmation statement on your behalf, so users can also take the help of a confirmation statement filing service.
The cost of submitting the details by post is 40 pounds while if you are submitting online then the charges will be just 13 pounds. The main thing is that the period will last for 12 months, if you have paid the amount before than 12 months, there will be no extra charge. It doesn’t matter how many times you are submitting details, you just need to pay only after 12 months.
What the Companies House will do if something gets wrong?
The companies House will place your company in the list of inconsistence if there is something wrong with the details you have submitted. Users don’t have to worry about it because the companies House will let you know and will give you a notice where the owner has to correct all the errors by submitting the missing form or correct alp the mistakes that you have made.
It is important to take action, otherwise, they will keep the company on the list of inconsistence, which will impact your business hardly. It will be publicly marked as inconsistent and when someone opens your company’s profile, they will be able to see that mark. To avoid these situations, the companies House will aware you about by sending emails and letters to inform about the deadline. They help people through their contact centers and will also do multiple seminars where they will provide all the information related to it, the main motive is to guide the companies.
I am a Master Graduate in Economics and Politics, I was worked as an English Teacher in Hyderabad Public School and later quit my yob to work as a journalist.