If you are a registered company owner or a director in the UK, you are obliged to submit an Annual Return (Confirmation Statement) to the Companies House each year after 12 months of the company’s incorporation. Bear in mind that currently annual return (After 30th June 2016) is called the “Confirmation Statement”. Read on the find out: what is an annual return, what information is included in it, how and when to submit it?
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What is an Annual Return (Confirmation Statement)?
It shows the snapshot of the company’s general information like:
- Details of directors
- Company secretary (if appointed)
- Registered office address
- Contact details
- Share capital
- Nature of the business
It is submitted on Form AR01 and gives reliable information to Companies House about your company in a specific period every year. The filing date of this form is typically one year after the incorporation of a company.
Bear in mind that annual returns are completely different from tax returns or annual accounts of a company. And they are filed on different dates.
What is Included in an Annual Return?
The following details are included in the Annual Return form:
- Name of the Company
- Registration number of the Company
- Company type (like private, public, etc.)
- Company’s principal business activities (SIC Code)
- Company registered address (including SAIL address)
- Details of Company’s Secretary (if you have one)
- Details of the share issued by the company
- Company director details
- Shareholder details
- Register of people with significant control (PSC)
How to Submit your Confirmation Statement?
The easiest way to submit your annual return online is via the Companies House WebFiling service. It just costs £13 to pay by Paypal or credit card. If you choose to submit through the post, you will need to fill in paper form AR01, for which you need to pay £40.
Before submission, you need to register for Webfiling Services. Once you are registered, Companies House will send an authentication code for your company to your registered office address.
Allow us to register you for Web filing Services. Get in touch today!
What if you Need to Report Changes?
According to HMRC, you can report the following changes to your statement at the same time:
- Shareholder information
- SIC codes
However, you cannot these report changes:
- the registered office address
- your company’s officers
- people with significant control
- the address where you keep your records
To make these changes, you need to file them separately with Companies House.
When do You Need to Submit it?
If your annual return is due, Companies House will inform you by an email alert or letter to your registered office address. The deadline for submission is typically 12 months after the date of your company’s incorporation or the date you filed your last confirmation statement (annual return).
Bear in mind that you must file it within 14 days after the due date otherwise, you can be penalised up to £5,000 and your company may be removed from the companies register.
Quick Sum Up
Hopefully, you have got a basic overview of what is an annual return, what does it include, how and when to submit it? Note that from 30 June 2016 annual return was replaced by a confirmation statement. In addition, you must know the deadlines of the submission; otherwise, you may be penalised and your company may be struck off.
Filing an Annual Return (Confirmation Statement) on time is mandatory! So, reduce your burden and let us handle this on your behalf! We are a team of chartered accountants that provide the best accountancy and taxation services at affordable rates! Contact us now!
Disclaimer: This blog contains general information on the annual return.