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What Is A Confirmation Statement?

What Is A Confirmation Statement?

Understanding What a Confirmation Statement is

A confirmation statement is an important document that both limited companies and limited liability partnerships (LLPs) based in the UK must file annually with Companies House.

If you’re running a business, then you must have a clear understanding of what a confirmation statement is. Throughout this blog, we will explore everything you need to know about confirmation statements, including why you should complete confirmation statements and much more!

 

What is a Confirmation Statement?

A confirmation statement is a mandatory document – it must be completed if you’re a company director. As discussed, you must file your confirmation statement every 12 months. Confirmation statements were first introduced in 2016 in place of the annual return.

Typically, confirmation statements are to be completed on the anniversary of the date your business was opened. The statement itself will inform Companies House of all of your key company information, including ownership and management.

It’s important to note that a confirmation statement is different from the company corporation tax return and business accounts and can’t be sent as a replacement.

Put simply, a confirmation statement offers you a simplified way to report your company details, focusing on the overall management of your company and any vital information that Companies House needs to know about.

It can be challenging to gather any relevant information regarding your business and send it to the right places. A confirmation statement allows you to update Companies House with crucial business information, and the statement itself ensures that all the information that Companies House has about your business is fully correct and up-to-date.

 

Why Should You Complete a Confirmation Statement?

Perhaps you’ve changed your company’s registered office address, people with significant control of your business have changed, or you’ve decided to change your business name. If this is the case, Companies House must be informed.

Additionally, you’ll also be able to provide extra information if there have been any changes to the capital trading status of shares or general shareholder information, to name a few.

You must complete your confirmation statement filing on time, and if you miss the filing deadline, you could face negative consequences, such as fines and penalties.

You can complete your confirmation statement online to notify Companies House of any changes to your business since your last confirmation statement date. If you’re unable to complete your statement update online, you can fill out a Companies House form.

To complete your confirmation statement online, it costs £34. However, to send your statement in paper form, you’ll be charged a higher amount of £62 annually.

 

Who Should File a Confirmation Statement?

It’s up to the company director to ensure all documents are filed correctly and on time. So, if you’re a company director, you’ll need to make sure your confirmation statement is completed by the deadline (14 days after the end of your company’s 12-month review period).

It is a legal requirement to complete your confirmation statement and failure to do so is classed as a criminal offence.

In the worst-case scenario, your company could be permanently removed from limited liability partnerships (LLPs), with the chance of directors being either prosecuted or disqualified.

 

What Information Should You Include in a Confirmation Statement?

When filling in a confirmation statement, you must include the following:

  • The registered office address
  • Registers
  • Officers
  • Business description (SIC)
  • Share capital
  • Shareholders

 

Remember, if any of this information has changed, then you must update and file these changes using the relevant form before you re-submit your updated confirmation statement.

 

Stay on Top of Your Paperwork and Payments With LJS Accounting Services

Here at LJS Accounting Services, we offer a range of expert services such as VAT and Bookkeeping.

We can help you stay on top of your payments and paperwork in line with HMRC regulations so you can continue doing what you do best… running your business.

If you’re new to the business world, we encourage you to make the most of our tailored start-up services, which help companies better understand the key aspects of starting and running a business.

So, whether it’s expert start-up advice, bookkeeping support or assistance with tax returns, you’ll be glad to know that we can help. To find out more, feel free to contact us today at 0151 601 0000. We look forward to hearing from you!

Have You Got Any Questions?

Need to talk to someone? Get in touch with one of our consultants today and we will be happy to help.
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