What is a Confirmation Statement? - Your Accounting Team

August 30, 2021by CBM Accounting0

Once a year, every business must provide a confirmation statement to Companies House. It ensures that the information they have about your business is accurate.

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You might be punished if you don’t send the confirmation statement to Companies House on time, so make sure you know what you need to do and when.

What is a confirmation statement from Companies House?

In June 2016, Companies House implemented the yearly confirmation statement. It’s intended to make the process of reporting information about your firm more efficient.

Simply put, the confirmation statement exists to ensure that the information Companies House has about your company is accurate.

Even if the business or partnership is dormant, all limited corporations and limited liability partnerships must provide a confirmation statement once every 12 months (at the very least).

You had to give Companies House a snapshot of your company once a year before the government established the confirmation statement. All you have to do now is ‘check and confirm’ that all of the information they have is correct.

Even if nothing has changed, you should double-check your company’s details to make sure they’re all right.

What is the procedure for submitting a confirmation statement form?

According to Companies House, the simplest approach to provide them the information is to fill out the confirmation statement form online.

If you need to update your company’s information, you may do so in the web form’s ‘extra information’ area. It may be used to update your:

Statement of capital trading status of shares exemption from keeping a record of individuals with substantial control shareholder information Standard Industrial Classification (SIC) code.

You may use the Companies House tool to see what information Companies House holds on your firm.

What is the cost of a confirmation statement?

Not only would filing the confirmation statement online save you time and money, but it will also save you money. It costs £13 to submit one during a 12-month period, and you won’t have to pay again if you file another within that time period.

Filing a paper form, on the other hand, would set you back £40, so if you can, submit your confirmation statement online. It also comes with pre-populated data, making it more faster and easier to complete.

Is it necessary for me to provide a confirmation statement?

Companies House requires a confirmation statement from you at least once a year, at any time throughout your review term.

A Review period’ may appear complicated, but it isn’t too tough to comprehend. The evaluation period for new businesses begins on the day of incorporation and concludes 12 months afterwards. If your business was founded on January 1, 2018, the evaluation period would conclude on December 31, 2018.

The evaluation period for existing businesses begins the day after you file your most recent confirmation statement and ends 12 months afterwards.

You can submit your confirmation statement early, kicking off a fresh 12-month review period.

What if I’m late with my confirmation statement?

Within 14 days following the conclusion of your review period, you must provide your confirmation statement. It’s critical that you remember, since your business and its officials might be punished, and your firm’s registration could be revoked.

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CBM Accounting LtdHeadquarters
Serving all kind of businesses for over a decade.
Our locationsWhere to find us?
cbmaccounting
Get in touchCBM Accounting Ltd Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright by CBM Accounting. All rights reserved.

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