The confirmation statement replaced the annual return in June 2016. It requires every business to confirm that the information that Companies House holds on it is correct by delivering a confirmation statement to Companies House at least once every 12 months.
Businesses are also required to keep a register people with significant control. These are identified as an individual who meets one or more of the following conditions in relation to your company:
- Directly or indirectly holding more than 25% of the shares
- Directly or indirectly holding more than 25% of the voting rights
- Directly or indirectly holding the right to appoint or remove a majority of directors
- Otherwise having the right to exercise, or actually exercising, significant influence or control Having the right to exercise, or actually exercising, significant influence or control over the activities of a trust or firm which is not a legal entity, but would itself satisfy any of the first four conditions if it were an individual
This is an important legal requirement of running a business and failing to get it right can result in directors being fined personally in the criminal courts. At Fund Flow we can ensure that your confirmation statement is correct and filed on time.
To find out more about how we can help you, please contact us.