Best Guide to Knowing How to File a Confirmation Statement

Before knowing the details of how to file a confirmation statement, it is important to understand what a confirmation statement is. The Confirmation Statement is a crucial yearly filing requirement for all limited liability partnerships (LLPs) and limited businesses in the UK. It ensures public records are accurate and current by providing Companies House with important information about your business. This submission, which replaced the annual return in June 2016, aims to simplify business procedures and lessen administrative workloads. In essence, corporations can utilise the Confirmation Statement to verify that the data corporations House has on file about them is accurate.

The procedure is intended to be straightforward. Unlike the previous annual reports, you just need to check and verify whether the data kept by Companies House is accurate or needs to be updated. Submitting a confirmation application is legally required; it is not merely a formality. Maintaining current corporate information contributes to transparency in UK business operations. Potential partners, investors, and clients gain from this transparency since it enables them to make well-informed decisions regarding the dependability and effectiveness of the business.

How to File a Confirmation Statement?

For limited liability partnerships (LLPs) and limited businesses in the UK, submitting a confirmation application to Businesses House is a crucial step. You can navigate the process and query how to file a confirmation statement with the help of the following detailed guide:

Verify the Details of Your Business

Verify that the data Companies House has on your business is correct and current before applying for confirmation. This guarantees that accurate information is reflected in the public register. You ought to look at the following:

Registered Office Address: 

Verify the official address registered for official means

Secretary and Directors:

Please make sure your directors’ (and secretary’s, if appropriate) information is accurate.

Persons with Significant Control (PSC): 

Examine the list of people or organisations that have substantial control over your business, such as those who hold more than 25% of the shares or voting rights.

Details of Shareholding and Shareholders:

Please verify the share capital and shareholder information if your company issues shares.

Standard Industrial Classification (SIC):

This code, which must be precise, indicates the kind of business your organisation is involved in.

Modify Your Company’s Details if Required.

Modify your company details if they are updated by using file confirmation statement. You can make the following changes in the Additional Information section of the Confirmation Statement:

Exemptions from Keeping the PSC Rgister

• Statement of Interest
• Share Trading Status
• Shareholder information
• SIC code

Nevertheless, the Confirmation Statement itself cannot be used to update some facts. Your changes should be updated through a form sent to the company’s house regarding:

• Directors and Company Secretary
• Registered Office Address
• Company Address
• PSC information

Send in an Application for Confirmation

After reviewing and making all required adjustments, you need to submit a Verification Application. There are two methods to submit:

• Online: GOV.UK is the fastest and most effective way where Online submissions are typically completed more quickly.
• Paper Submission: You can download the Verification Application Form, fill it out, and mail it if you’d like. You must still file a Verification Application to ensure that the information you sent to Companies House is accurate, even if your company’s details haven’t changed. If you don’t apply, you could be fined or have your business removed from the register.

When to File a Confirmation Statement?

When and how to file a confirmation statement is the most searched query, for which we provide a guide. Limited liability partnerships (LLPs) and limited liability companies in the UK are required to file a confirmation statement at least once a year. The submission deadline, however, can change based on your company’s unique situation. Here are the essential details regarding when to apply for confirmation.

Date of Submission

After your company’s validation period ends, you have 14 days to file your confirmation application. The validation period is 12 months from the date of your last validation application or, for new businesses, the date of your company’s incorporation. This implies that to stay in compliance, you must finish your submission by the end of the 14-day window.

Validation Time:

Typically, the validation phase lasts a year. It begins on the anniversary of your company’s incorporation or the anniversary of your last confirmation statement if you have previously filed one. Every year, the validation period finishes on the same day, thus it’s critical to remember this date to guarantee on-time submission.

Statement of The First Submission

Within 14 days of the first anniversary of your company’s incorporation, new businesses must file their first confirmation application. The Certification Statement is a distinct requirement, therefore it’s crucial to distinguish it from filing an annual report or tax return.

Early Submission

Applying for verification does not have to wait till the verification period is over. Throughout the audit period, you may file at any time. By filing early, you can make sure your records are current and prevent missing deadlines.

Many Services

If there are major changes to your company’s details over the year, you can submit more than one confirmation application. However, regardless of how many times you apply in a given year, you only pay one annual charge for your verification application.

Note

It is ultimately your job to make sure your confirmation application is filed on time, even though the Companies Registry sends reminders to help you remember when to submit it. To keep track of due dates, think about utilising automated software or personal reminders.

Submission Late

Failing to file a confirmation statement is a criminal offence and can have serious implications, including the prospect of your company being taken off the register, even though the Companies Registry does not impose penalties for late filings.

How to File a Confirmation Statement and Avoid Mistakes?

Failure to Meet the Deadline

• Your confirmation application must be submitted within 14 days of the submission date. To guarantee on-time submission and prevent fines, set reminders.

Not Including Modifications

• Examine all of the company’s details with care. It’s easy to forget about minor adjustments made throughout the year, including changes in directors or share capital, but your report should contain these.

False Stockholders Information

• Verify the accuracy and timeliness of shareholder information, including their ownership stake. Complications may result from mistakes made in this region.

Not Updating PSC Information

• Make sure to update your confirmation statement with any changes to your Significant Controllers (PSCs).

Not Including the SIC Code

• Verify that your activities are still appropriately reflected by your Standard Industrial Classification (SIC) code. To keep accurate public records, this is necessary.

Inadequate Submission

• Fill out all the required fields completely before submission. uncomplete submissions could cause delays.

Not Pying the Registration Fee

• To prevent delays in processing, don’t forget to pay the application fee.

Not Maintaining Documentation

• A copy of the verification statement you submit should be retained for your records. You can guarantee a precise and easy filing process and make sure your business conforms with Companies House regulations by avoiding these errors.