Q: What is a confirmation statement?
A: A confirmation statement, also referred to as a CS01, is a document a company submits to Companies House at least once a year. Companies also submit a confirmation statement when there is a change in company structure.
Q: What qualifies as a change in company structure?
Any changes to directors and secretaries, people with significant control (PSC) and the company’s registered office address all qualify as a change in company structure. Furthermore, changes to Standard Industrial Classification (SIC) codes, statement of capital, trading status of shares, exemption from keeping a PSC register and shareholder information are all changes in company structure. Companies must notify these changes to Companies House by sending a confirmation statement.
Q: What is the deadline to submit a confirmation statement?
A: A company must file a comfirmation statement within two weeks of the statement date. You can check your company�s statement date and due date on Companies House. Submitting a confirmation statement early will reset the 12 month review period.
Get information on your company here: https://www.gov.uk/get-information-about-a-company
Q: How much does it cost to file a confirmation statement?
A: Your company must pay to submit its first confirmation statement within the payment period every 12 months. For newer companies this is every 12 months after your company was incorporated. Older companies must pay the fee 12 months after the previous payment.
It costs �13 to file the first confirmation statement online every 12 months. A company can submit a confirmation statement by post, however it costs �40. Additionally, online forms have checks, data that has been entered automatically, and are processed in a much shorter time compared to filing via post.
Q: What happens if I file a confirmation statement late?
A: Failing to submit a confirmation statement on time will not result in an immediate penalty. However, the company will recive a warning letter from Companies House, which if the company ignores can lead to sanctions for the company officers.
Q: What happens if I don�t submit a confirmation statement?
A: A company’s officers will be liable for a fine of up to �500, as well as a daily default fine of up to �250 if a company continues to fail to submit. Officers may also be disqualified from becoming a company officer for some years, and the company will also be at risk of being struck from the register.
Q: What do I do if the information provided is incorrect?
A: A company can resubmit an amended confirmation statement with the correct information.
If you require assistance to submit your confirmation statement on time, CIGMA ACCOUNTING LTD is here to help. Give us a call on 02045518463 and speak to one of our members of staff today.
