In this comprehensive guide, we’ll explore the ins and outs of the Confirmation Statement, shedding light on its purpose, the information it contains, and why companies need to prioritise its submission.
What is a Confirmation Statement?
A Confirmation Statement is a mandatory document that limited companies, including private and public companies, must file annually with Companies House in the United Kingdom. Formerly known as the Annual Return, the Confirmation Statement serves as a snapshot of essential company information, providing an overview of the company’s structure, officers, shareholders, and registered address.
Key Information in a Confirmation Statement:
- Company Details: This includes the company’s registered name, number, and registered address.
- Officers: The Confirmation Statement lists the names and details of the company’s directors, company secretary (if applicable), and other key officers.
- Shareholders: Details about shareholders, including the types and numbers of shares they hold.
- Share Capital: Information about the company’s share capital, such as the total number and nominal value of shares issued.
- SIC Code: The Standard Industrial Classification (SIC) code, indicating the company’s primary business activity.
- People with Significant Control (PSC): Information about individuals or entities with significant influence or control over the company.
Why is the Confirmation Statement Important?
- Compliance: Submitting an accurate Confirmation Statement is a legal requirement for all UK companies. Failure to file the statement can result in penalties and, in extreme cases, the dissolution of the company.
- Transparency: The Confirmation Statement promotes transparency by ensuring that up-to-date and accurate information about the company, its officers, and shareholders is publicly available.
- Regulatory Compliance: Companies House and regulatory authorities rely on the Confirmation Statement to maintain accurate records, allowing them to regulate businesses effectively.
Filing a Confirmation Statement:
Companies are required to file the Confirmation Statement at least once every 12 months, typically on the anniversary of the company’s incorporation. Businesses can file the statement online through the Companies House website, using the relevant information about the company’s officers, shareholders, and other details.
The Confirmation Statement is a fundamental document that underscores the transparency, accuracy, and regulatory compliance of companies in the UK. By diligently submitting this statement annually, businesses demonstrate their commitment to operating within legal frameworks, ensuring transparency in their operations, and contributing to a trustworthy corporate environment. Prioritising the timely and accurate submission of the Confirmation Statement is not only a legal obligation but also a testament to a company’s integrity and adherence to good corporate governance practices.
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