Companies House has announced that from June 2016 the Confirmation Statement will replace the current Annual Return.
So what does this mean?
At least once a year you will need to review the information held by Companies House and confirm whether it is correct or not.
What is involved in a Confirmation Statement?
Just like the current Annual return, you will need to:
- Check the information Companies House hold about your registered office, director/s and location of registers and, if these need changing or updating you can do this by filing the right form.
- Check/update/confirm your Shareholder information
- Check/update/confirm your Statement of Capital
- Check/update/confirm your Standard Industry Classification (SIC codes)
- Check and confirm your record is up to date
- Pay the correct filing fee
- NEW – provide the information contained in your Register of People with Significant Control (PSC) from 30 June 2016.
What is a PSC?
The PSC is a new statutory register which most UK companies & LLPS are required to keep in order to ensure that the individuals who are its ultimate beneficial owners and controllers are identified and details of their holdings made public.
What is a PCS?
A PSC is anyone in a Company, LLP or SE who meets one or more of the conditions listed below:
- Owns more than 25% of the Company’s shares
- Holds more than 25% of the Company’s voting rights
- Holds the right to appoint or remove the majority of Directors
- Has the right to, or actually exercises significant influence or control
- Holds the right to exercise or actually exercises significant control over a Trust or Company that meets one of the first 4 conditions.
More information on the Confirmation Statement can be found at www.companieshouse.gov.uk/confirm.