What Is a Confirmation Statement and Why Is It Necessary to File?
Every year, all kinds of UK-registered companies, including Limited Liability Partnerships (LLPs), must submit a confirmation statement to Companies House. While this might seem like a routine task, understanding its importance and how to file it correctly is crucial for maintaining good standing with regulatory authorities and avoiding penalties. In this blog, we’ll explain everything you need to know about confirmation statements, why they’re necessary, and how you can file them effortlessly.
What Is a Confirmation Statement?
A confirmation statement is a mandatory filing that provides Companies House with up-to-date information about your company or LLP. It ensures that the corporate data held on the public register is accurate, reflecting any changes made over the previous year.
This statement must be filed annually, even if there have been no changes to your company’s details. It’s a quick and straightforward process that helps maintain transparency and compliance with UK regulations.
Key Information Required for a Confirmation Statement:
When filing a confirmation statement, you need to confirm or update the following information about your company:
1. Registered office address – The official address where your company is registered.
2. Company officers – Directors and company secretary details (if applicable).
3. Statutory record location – The address where your company’s statutory records are kept (such as at the registered office or with Companies House).
4. SIC code(s) – Standard Industrial Classification codes that describe your company’s business activities.
5. Statement of capital – Information regarding your company’s share capital, including share classes, values, and whether shares are paid or unpaid.
6. Members of the company – Shareholders, guarantors, or LLP members.
7. Persons with significant control (PSCs) – Individuals or entities that have significant control over the company.
8. Trading status of shares – Whether your company’s shares have been admitted to a trading market.
9. Registered email address – Your company’s official email address.
If any of these details have changed in the past year, you’ll need to update them on the confirmation statement itself. However, some changes require separate forms to be filed before submitting the confirmation statement.
Why Is Filing a Confirmation Statement Necessary?
The confirmation statement is an essential part of keeping your company compliant with UK law. Filing this statement ensures that your company’s details are accurate and up-to-date in the Companies House public register, which is accessible by anyone.
Here are a few key reasons why it’s necessary to file a confirmation statement:
1. Legal Compliance: All UK-registered companies and LLPs must file a confirmation statement annually. Failing to do so can result in penalties or even the company being struck off the register.
2. Transparency: It helps ensure that the information on the public record is current and accurately reflects the company’s structure, ownership, and business activities.
3. Avoid Penalties: Not filing your confirmation statement on time can lead to fines or damage to your company’s reputation and credit rating. For directors, failing to file could also result in personal fines and legal consequences.
How to File a Confirmation Statement
There are two main ways to file your confirmation statement, online or by post but filing online is the quickest, simplest, and most secure method. It costs only £54.99, and the process is typically completed in just a few minutes. Here’s how you do it:
1. Visit the FormationsHunt website.
2. Navigate to our Confirmation Statement service page.
3. Click “Buy Now” and enter your details.
4. That’s it! Our experts will handle the rest.
Common Mistakes to Avoid When Filing
While the confirmation statement is straightforward, there are common pitfalls that business owners often fall into:
1. Forgetting to Update PSC Details: Failing to update your Persons of Significant Control (PSC) information can lead to non-compliance, as this is a crucial aspect of corporate transparency.
2. Overlooking Shareholder Changes: If there have been changes to your shareholders, make sure these are correctly reflected in the statement.
3. Missed Deadlines: Filing late can lead to penalties and even the risk of your company being struck off the register.
4. Inaccurate Information: Any incorrect or outdated details could lead to a rejected filing or legal complications.
Consequences of Late Filing
Filing a confirmation statement late can lead to a range of serious consequences, such as:
- Fines: Directors can be fined personally for failure to file.
- Damage to Credit Rating: Late filings can negatively affect your company’s credit rating, making it harder to secure loans or attract investors.
- Reputation Damage: Late filings or inaccurate information can harm your company’s reputation with customers, suppliers, and investors.
- Struck-Off: If you consistently fail to file your confirmation statement, Companies House may strike off your company, removing it from the official register.
How FormationsHunt Can Help You
We understand that managing your company’s compliance can be overwhelming, especially when juggling other business tasks. That’s why FormationsHunt offers a Confirmation Statement Filing Service to make the process easy, fast, and hassle-free.
Our team of experts will ensure that your confirmation statement is filed correctly and on time. Whether you’re filing for the first time or need to make updates, we’re here to guide you through every step.
Our Confirmation Statement Service includes:
- Online filing of your confirmation statement with Companies House.
- Expert review to ensure accuracy and compliance.
- A fast, secure, and affordable process at just £54.99.
Need a fast turnaround?
Choose our Express Service for £64.99, and we’ll ensure your confirmation statement is filed within 24 hours.
Additional Services You Might Need
While filing your confirmation statement, it’s also a good time to review other aspects of your business. If you need help with:
We offer a range of services to keep your company compliant and efficient. Let us take the burden off your shoulders so you can focus on growing your business.
Final Thoughts
Filing a confirmation statement is a small but essential part of maintaining a compliant and trustworthy business in the UK. While the process is simple, ensuring your information is accurate and submitted on time is crucial.
We’re committed to providing you with expert support and efficient solutions for all your company’s filing needs. Whether you need help with confirmation statements or any other business services, we’re here for you every step of the way.
Take Action Now:
If you need assistance with your confirmation statement, don’t hesitate to contact us. We’ll ensure everything is filed correctly, so you don’t have to worry about deadlines or penalties.
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