Running a Limited Company involves numerous responsibilities, including ensuring that Companies House always has up-to-date information about your business. For this purpose, you are required to submit a special document—Confirmation Statement—at least once every 12 months, and sometimes even more frequently. Failing to do so could result in financial penalties and even the closure of your company.
What is a Confirmation Statement?
A Confirmation Statement is an annual report confirming that the data held at Companies House is up to date. The obligation to file the statement applies to companies, including the Limited Company. A director of an LTD must file this document at least every 12 months and additionally when there are significant changes such as the removal of a director or a change in the company’s registered office.
What is included in the Confirmation Statement?
Prior to making the declaration, a detailed inspection is carried out by the company director or his/her nominee. This should address issues such as:
- the company’s registered office address,
- details about directors, secretaries, and shareholders,
- the type of business activity (SIC Code),
- PSC (Persons with Significant Control),
- the amount of share capital,
- the location of the company’s statutory registers.
If any changes have occurred since the last submission, these must be reported to Companies House via the Confirmation Statement.
Penalties for failing to submit the Confirmation Statement
The legislation provides a specific deadline for filing the declaration. This must be done at least once a year, no later than 14 days after the end of the 12-month verification period counted from the incorporation of the company or the filing of the previous declaration.
It is very important to keep an eye on this deadline and ensure that your information is updated. Failure to do so will have severe consequences for your company. Above all, you then risk a financial penalty and, in more serious cases, even a lawsuit. The legislation also provides for the possibility of dissolution of the company for failure to submit the declaration.
Of course, one day’s delay does not immediately mean that you will pay thousands of pounds, let alone – that your LTD company will be dissolved. However, there is no point putting yourself under unnecessary stress, so it is best not to make a statement at the last minute.
Unsure how to submit a Confirmation Statement? We can do it for you!
The simplest and most convenient way to submit the statement is online. To do so, you need to log in using the email address and password set during registration or create an account if it’s your first time submitting the statement.
Although the Confirmation Statement is not particularly complex, some individuals prefer to submit it themselves. However, this requires investing your time. If you lack experience, this likely means slowly filling out the document based on instructions found online, then checking the information several times without being entirely sure that it’s been completed correctly.
You can avoid this uncertainty, gain peace of mind, and save time by having an experienced accountant prepare the Confirmation Statement for you. At our accounting office, we’ll handle everything on your behalf.
