If you’re running a business in the UK, you’ve likely heard about the confirmation statement. But what exactly is it, and how do you go about filing one? Let’s break it down into plain English so you can file yours with confidence.
What is a Confirmation Statement?
It’s a way of confirming that all the information the government has about your company is up to date. This includes details about directors, shareholders, and the registered office address. It’s a legal requirement for every limited company and Limited Liability Partnership (LLP) in the UK. If you don’t file it on time, you could face fines or even be struck off the register.
Why is Filing a Confirmation Statement Important?
Imagine this scenario: You’ve been running your business for a year, things are going well, and you’re growing fast. Suddenly, you receive a notification from Companies House saying your company is at risk of being dissolved. Why? Because you forgot to file your confirmation statement.
A friend of mine, Sarah, once found herself in this situation. She was busy expanding her small bakery and simply forgot about the confirmation statement. Luckily, she caught the mistake just in time, but it was a stressful reminder of how crucial this filing is. Missing it could not only disrupt your business operations but also damage your professional reputation.
When Should You File Your Confirmation Statement?
The confirmation statement needs to be filed at least once every 12 months. The deadline is usually a year after the last statement was filed or on the anniversary of the company’s incorporation. Companies House will send you a reminder, but it’s a good idea to set your own calendar reminder as well.
What Do You Need Before Filing?
Before you start filing, gather the following:
- Company name and number
- Registered office address
- Details of directors and secretaries
- Information about shareholders and share capital
- SIC codes (Standard Industrial Classification) that describe your company’s activities
Having these details ready will make the filing process smoother.
Step-by-Step Guide to Filing a Confirmation Statement
Filing a confirmation statement is straightforward, and you can do it online in a few simple steps. Here’s how:
- Log into your Companies House account: Head to the Companies House website and log in using your company’s unique authentication code. If you don’t have one, you’ll need to apply for it, which can take a few days, so plan accordingly.
- Review your company’s information: Once logged in, you’ll be able to see all the details Companies House has on file. Take a moment to review everything carefully. If there are any changes (like a new director or updated address), you’ll need to update these details before proceeding.
- Make any necessary updates: If you need to update any information, do so now. This could include changing the registered office address, updating director information, or adjusting shareholder details.
- Confirm the information: After reviewing and updating, you’ll be asked to confirm that everything is correct. This is your official confirmation that the details are up-to-date.
- Pay the filing fee: There’s a small fee to file your confirmation statement. As of now, it’s £13 if you’re filing online. You can pay this securely via credit or debit card.
- Submit your confirmation statement: Once everything is confirmed and the fee is paid, go ahead and submit your statement. You’ll receive a confirmation email from Companies House, and you’re done for another year!
What Happens After Filing?
After filing, your confirmation statement will be recorded on the Companies House public register. This means anyone can see it, so it’s essential that all the information is accurate and up-to-date.
Tips to Avoid Common Mistakes
- Set reminders: Don’t rely solely on the Companies House reminder. Set your own reminders at least a month in advance of the due date.
- Double-check your details: Before submitting, make sure all the information is accurate. Even small errors can cause issues down the line.
- Keep your authentication code safe: This code is your key to filing online, so keep it secure and accessible.
Why It’s Worth the Effort
Filing a confirmation statement might seem like just another administrative task, but it’s a crucial part of running a business in the UK. It keeps your company in good standing with the government and ensures that your business information is up-to-date and transparent.
By taking the time to file accurately and on time, you’re not just avoiding potential penalties—you’re also demonstrating professionalism and commitment to running your business the right way.
Conclusion
Filing a confirmation statement is a vital task that every UK company must complete annually. While it might seem daunting at first, with a little preparation and attention to detail, it’s something you can do confidently. Remember, the key is to stay organized, review your information carefully, and file on time.
