Hey There!
Is your limited company listed correctly on Companies House? Is your company’s information up-to-date with the relevant authority?
Ensuring your company’s details are accurate and current with Companies House is crucial for staying in good legal standing. As a UK company owner, you must file basic information about your company with Companies House to stay compliant.
In this blog post, we’ll explore the importance of the Confirmation Statement in confirming your company’s information and keeping it compliant with regulatory requirements.
Let’s dive into company information filings and learn how this vital document maintains your company’s transparency and credibility!
Account Filings with Companies House
Account filings are vital documents companies must submit to Companies House in the UK. This government agency is responsible for registering and regulating companies. Account filings provide information about the company’s financial performance and other essential details, such as basic information about a limited company.
Simply put, account filings are like regular reports that companies must submit to the government to show how and by whom they operate. This information is available to the public so that anyone can see it.
Account filings are essential because they help companies operate fairly and transparently. They also help to protect investors and creditors from fraud and other illegal activities.
There are two types of account filings that companies must submit to Companies House:
- Annual Accounts: Annual accounts show the company’s financial performance over the past year.
- Confirmation Statement: The confirmation statement confirms that the company is still trading and has met its legal obligations.
1. Companies House Annual Accounts
Annual accounts for Companies House are documents prepared at the end of a financial year to show how a company performed during the last accounting period. This is a must-submit account for a limited company. The information in the account will be used to prepare a company tax return for HMRC and estimate the amount of corporation tax owed by the company.
All limited companies must send their annual accounts to Companies House. It does not matter if you have been successful, broke even, have not traded, or have been dormant.
Note: Corporation tax returns must be submitted through Form CT600.
2. Confirmation Statement Companies House
A confirmation statement is a document that every UK company must submit to Companies House annually. It serves to confirm and update essential information about a limited company.
By submitting this vital account, you can be sure that Companies House has the most current and accurate information possible regarding the company’s structure, registers, officers, shareholders, registered office, share capital, and people with significant control (PSC).
Submitting a confirmation statement regularly shows transparency, legal compliance, and business record integrity. Any errors or outdated information must be corrected immediately; otherwise, severe penalties are likely.
Previously, the Confirmation Statement was known as the Annual Return. Alternatively, you could say that on June 30, 2016, the Confirmation Statement replaced the previous Annual Return.
What Is the Purpose of a Confirmation Statement?
The purpose of a confirmation statement is straightforward. This account filing verifies that essential company data recorded at Companies House is accurate and up-to-date.
When the confirmation statement is due, the company should update any outdated or inaccurate information held on file before or concurrently with delivering the confirmation statement.
The confirmation statement is more accessible than the annual return because it doesn’t require the entry of previously filed information if there have been no changes in the previous 12 months.
If all of your company’s details are the same and you don’t have any changes to report, all you need to do is “check and confirm” the information held at Companies House and send in the statement.
What Is Included in a Confirmation Statement?
A Confirmation Statement (CS01) in the United Kingdom is a statutory document that limited companies and limited liability partnerships (LLPs) must file annually with Companies House. It is a snapshot of the company’s information at a specific time and helps ensure the public register of the company is accurate and current.
A Confirmation Statement typically includes the following:
- Registered Office Address.
- Registers.
- Officers.
- Business Description or Standard Industrial Classification (SIC).
- Share Capital/Statement Capital.
- Shareholders.
- People/Persons with Significant Control (PSC).
1. Registered Office Address
A registered office address is your company’s official address published publicly on the UK government’s website. It has to be an actual address because that is where official mail is sent. According to Section 68 of the Companies Act 2006, every company must have a registered UK office.
Your registered address does not have to be the same as your business address, where your company operates or trades. It must, however, be near a post office because that is where mail from Companies House, HMRC, and other government agencies is delivered.
You must mention your company’s registered office address in a confirmation statement. It is the very first section of a CS01 Form’s online filing.
2. Registers
The Single Alternative Inspection Location (SAIL) address must be mentioned here.
A SAIL address is a Single Alternative Inspection Location where a company can store its statutory records and allow public inspection. There is no legal requirement to have a SAIL address; it is simply used for convenience as an alternative inspection location to the registered office.
3. Officers
Details about the company’s directors, secretary, or other officers are included in this section of the confirmation statement.
4. Business Description or Standard Industrial Classification (SIC)
Business description, or Standard Industrial Classification (SIC) code, is a standardized code used to classify and categorize businesses and economic activities based on their primary activities or industries.
The SIC code system is used for various purposes, including statistical analysis, government reporting, and business registration. You must include and mention your SIC code in your confirmation statement.
To check which product is under which SIC code, click here.
5. Share Capital/Statement of Capital
This section of the confirmation statement provides information about the company’s share capital, including the total number of shares issued and the type of shares issued. The aggregate nominal value of the shares, currency, class, and prescribed particulars are also included here.
This information calculates the company’s filing fees and determines shareholders’ rights.
6. Shareholders
The company’s shareholders and how many shares they hold are mentioned here. Also, any changes to the company’s shareholders since the last confirmation statement should be detailed, including changes in the names and shareholdings of shareholders.
7. People/Persons with Significant Control (PSCs)
One of the most essential pieces of information in a confirmation statement is mentioning a PSC or Person with Significant Control.
A Person with Significant Control is someone who has considerable control over your company. They are sometimes referred to as “beneficial owners.”
You must identify your PSC and tell Companies House who they are by including the information in your confirmation statement. It could be you or a representative of your company. There can be one or more PSCs in a company.
You must record their details on your company’s PSC register, and you’ll need to include this information when you set up your company.
Companies House Accounts Filing Requirements
Companies House accounts filing requirements are the rules and regulations companies in the UK must follow when submitting their accounts. These requirements are designed to ensure that companies are providing accurate and up-to-date information about their financial performance.
Today, we will discuss the requirements for submitting a Confirmation Statement Form CS01. Take a look below to learn what you need to submit this form:
- A Companies House account, distinct from a WebFiling account.
- The company number.
- The authentication code for the company.
- All the updated/changed information of the company.
- To pay the £34 submission fee with a credit or debit card (£62 for paper or by post submission).
A confirmation statement can take up to 15 minutes to complete. After 60 minutes, the service will time out, and your answers will not be saved.
Important Note: This service does not accept payment through a Companies House payment account.
Who Is in Charge of Submitting the Confirmation Statement?
According to the Companies Act of 2006, each public and private company must submit a confirmation statement to the Registrar of Companies attesting to the accuracy of the data they have on file.
Directors are legally obligated to ensure that all statutory documents, such as annual accounts and confirmation statements, are submitted to Companies House by the specified deadlines. In an LLP, designated or nominated members are in charge of filing confirmation statements.
A company and its officers risk severe repercussions if they fail to deliver a confirmation statement, as it is a criminal offense. The Registrar can take steps to remove the company or LLP from the list, and the directors or designated LLP members can be disqualified or brought to court.
Confirmation Statement Form
The Confirmation Statement Form is what companies in the UK must submit to Companies House once a year to confirm that the information held about the company is up-to-date. The form is called CS01.
The CS01 Form must be submitted within 14 days of the company’s anniversary date when the company was incorporated. The form can be filed online or by postal mail.
Confirmation Statement Filing Deadline
The UK corporate law requires that confirmation statements be filed by the specific deadline. The deadline for filing is no more than 14 days after the end of the 12-month “review period.” Failure to do so is a criminal offense under the Companies Act of 2006.
Your company and its officers may be prosecuted if you do not file your statement within 14 days of the end of your review period. Additionally, your business might be struck off from the Companies House register.
What Is a Review Period?
A review period refers to a 12-month timeframe during which a company in the UK must file at least one confirmation statement with Companies House.
At least once every 12 months, a confirmation statement must be submitted. Your review period begins on one of these dates:
- The day your company was officially registered.
- The date of your most recent confirmation statement submission.
- You must send your statement within 14 days of your review period.
For example:
Let’s say your new company was registered on January 1, 2022. Your review period starts on January 1, 2022, and lasts until December 31, 2022.
What if I Send a Statement Early?
You can submit a statement at any time during your 12-month review period. But if you send it early, a new 12-month review period begins.
For example:
Suppose, your new company was registered on January 1, 2022. Your company submitted a confirmation statement on September 30, 2022. Your next review period will start on October 1, 2022, and end on September 30, 2023.
Confirmation Statement Fee
The fee for submitting a Confirmation Statement to Companies House in the UK depends on how you file it. Here are the usual fee options:
- Online Filing: The fee is usually lower if you file your Confirmation Statement online using the Companies House service (Webfiling). The exact fee is £34 for online filing.
- Paper Filing: If you file a paper Confirmation Statement by mail, the fee is typically higher than online filing. The paper filing fee is £62.
How to File Confirmation Statement
You can file your confirmation statement in two ways. You can submit the Confirmation Statement Form (CS01) online or by post.
To File Online:
- Prepare Information: Gather all the necessary information about your company, including details of directors, shareholders, the registered office address, and the company’s SIC (Standard Industrial Classification) code.
- Access Companies House Online Service: Go to the Companies House website and log in to your company’s online account. If you don’t have an account, create one with the proper information.
- Select Confirmation Statement: In your online account, select the option to file a Confirmation Statement (CS01).
- Provide Information: Fill out the online form with the required information. Be aware that all the information you provide is correct and current.
- Review and Confirm: Review the information you’ve provided and confirm it’s correct.
- Pay the Fee: Pay the filing fee online using a credit or debit card.
- Submit: After paying the fee, submit the confirmation statement online. You will receive an email confirmation containing a receipt once it has been successfully submitted to Companies House.
To file through postal mail:
- Download the confirmation statement form.
- Complete it according to the procedure and requirements.
- Check the address provided on the form.
- Send the completed form to Companies House at the address provided.
Note 1: If you are updating information about your company, you must download and complete parts 1 through 4.
Note 2: Filing through postal mail will cost you £62. A check with your company’s number on the back should be included.
WebFiling Companies House Service
WebFiling is an online service provided by Companies House in the UK that allows limited companies and limited liability partnerships (LLPs) to submit various company-related documents and filings electronically. The service is available to all companies registered in the UK, regardless of size or type of company.
To use WebFiling, companies must first register for an account. It is a secure and convenient way for businesses to meet their statutory filing obligations and manage their company information with Companies House.
The WebFiling service is available 24/7.
Legal Restraints of Using WebFiing
Companies or limited liability partnerships that have been dissolved, converted, or closed are not eligible to use the WebFiling service.
The following cannot use a WebFiling confirmation statement:
- Companies with at least 1,000 individual or joint shareholders.
- Companies that are required to submit lists of subsidiaries and associated undertakings.
- Companies that have multiple paid and unpaid capital details in the same class or share.
- Companies with details about their paid or unpaid capital in a currency different from the class of their shares.
Companies House Login
Companies House serves three purposes:
- Incorporate limited companies.
- Dissolve limited companies.
- Examine and store the information on limited companies that is required by law.
A Companies House account is necessary for various reasons; to know the obligations, company information, requirements, statuses, due dates, etc.
You must have a Companies House account to log in to Companies House. If you do not have an account, you can create one by visiting the Companies House website and clicking the “Create an account” button.
Once you have an account, you can log in by going to the website and entering your email address and password in the fields provided.
What Happens After Successful Submission of a Confirmation Statement?
After successfully submitting a confirmation statement, Companies House will process it and update their records accordingly. You will receive a confirmation email from Companies House within 24 hours of filing your statement.
If you submitted your confirmation statement online, you can check its status by logging into your Companies House account and selecting the “Confirmation statements” tab.
If you mailed your confirmation statement, you can check its status by contacting Companies House customer service.
Your company will comply with the Companies Act 2006 once your confirmation statement has been processed. This means that your company can continue to trade and enter into contracts.
What if I Forgot to File My Confirmation Statement?
You may be subject to fines and penalties if you forget to file your Confirmation Statement (CS01) with Companies House in the UK by the due date. It’s essential to adhere to the filing deadlines to avoid these penalties and to maintain your company’s legal compliance.
The criminal courts may fine directors personally for failing to file confirmation statements, as it is a criminal offense. Additionally, the registrar may strike off the company from the register if these documents are delivered after the deadline.
Confirmation Statement Late Filing Penalty
Directors or LLP-designated members may face personal fines in criminal courts for failing to file confirmation statements.
Failure to file your confirmation statement on time may result in legal action. Any criminal proceedings arising from the failure to file confirmation statements are distinct from any late filing penalties imposed by Companies House on the company.
Although there is no penalty for filing confirmation statements or annual returns late, the registrar may take action to strike off your company from the register. This is known as a Compulsory Strike off.
Confirmation Statement Overdue Strike Off
If a company continues to ignore its confirmation statement filing obligations and defaults for an extended period, Companies House may initiate striking the company off the register. This is known as “compulsory strike off.”
Companies House will send a “First Gazette notice” to the company’s registered office address and the directors or designated officers, if available. This notice warns that the company is at risk of being struck off the register.
Restoring or Reinstating a Company
To restore a company to the register, you must file a paper form of CS01 instead of filing online.
When restoring a company, you must include the statement date due before it was struck off. Contact Companies House before submitting your confirmation statement (form CS01) if you are unsure of the correct date.
Business Globalizer: Your Guide Through Obstacles to a Successful Confirmation Statement Filing
You may struggle to file a confirmation statement through Form CS01. Maybe the information gathering and correct filing are a hassle, or you are afraid of mistakes; the wrong information filing could make you lose your money and valuable time. It can even make your standing in a fix with Companies House,
Don’t worry. Business Globalizer is here to help with expert professional and premium business consultation, which can relax you about your annual filings and legal obligations with Companies House.
FAQs
Q1: What Is Companies House Beta?
Answer: “Companies House Beta” refers to a user interface and system upgrade introduced by Companies House, the official registrar of companies in the United Kingdom. It represents an updated, more user-friendly online platform for accessing and managing company information and filings.
Q2: What Is Companies House WebFiling?
Answer: WebFiling is an online service provided by Companies House in the UK that allows companies and limited liability partnerships (LLPs) to submit various company-related documents and filings electronically. The service is available to all companies registered in the UK, regardless of size or type of company.
Q3: What Is a Companies House Authentication Code?
Answer: The authentication code is a 6-digit alphanumeric code that Companies House issues to each company. The code is the online filing equivalent of a company officer’s signature and authorizes information.
Q4: How Do I Contact the Companies House if I Don’t Get a Submission Code or Receipt?
Answer: If you submit your form online, you will instantly get your submission code after a successful submission. Then, within three hours, you will get your receipt through email.
If you don’t, then contact Companies House in the following ways:
- By phone: +44(0)3031234500
8:30 am to 6 pm UK time, Monday to Friday. - By email: [email protected].
Q5: How Much Does It Cost to Submit a Confirmation Statement Form?
Answer: Submitting a Confirmation Statement Form (CS01) costs £34 online and £62 by post.
Q6: How Will I Get My Receipt of a Successful Confirmation Statement?
Answer: You will get a submission code if you submit your Confirmation Statement successfully. Then, within three hours, you will receive an email containing your submission receipt.
Q7: What if I Don’t Have Any Changes in My Company to Report?
Answer: You can “check and confirm” the information already on the public record if nothing has changed since your previous confirmation statement, and you do not need to submit anything new.
Q8: What Information Is Confirmed By a Confirmation Statement?
Answer: Changes to the company’s directors, shareholders, People with Significant Control, Share Capital, Company registered address, or SIC codes must be reported in the Confirmation statement, whether positive or negative.
Bottom Line
So, that’s it. We covered all the essential aspects of a Confirmation Statement.
In conclusion, the confirmation statement is vital to keeping your company’s details up-to-date and complying with the law. Regularly confirming your company’s information on Companies House ensures that your business stays in good standing. Don’t forget to mark your calendar and file your Confirmation Statement on time to avoid penalties and maintain a robust legal presence. Stay informed and stay compliant!
