Introduced on the 30th June 2016 as a direct replacement for the Annual Return (Companies House form AR01); the Confirmation Statement (Companies House form CS01) is a simpler version of the Annual Return, yet serves the same purpose of confirming the details held at Companies House for your Company or LLP are correct.
The Confirmation Statement is simpler in that as long as there are no changes to the information Companies House holds for your company, you simply need to check and confirm the details without the need to to re-enter previously filed information.
People with Significant Control
We previously wrote about the Register of People with Significant Control (PSCs) – for companies registered before 30th June 2016, information about PSCs will need to be included in their initial Confirmation Statement. Companies incorporated after this time will have provided PSCs details during the incorporation process.
How to file and cost
The easiest way to file your Confirmation Statement is online via Companies House Webfiling or a software filing application. Not only is this easier, as the online forms benefit from automatic checks and pre-population but it’s cheaper also. To file the CS01 form by post will cost £40, whereas filing the form online costs just £13.
A Confirmation Statement, as with an Annual Return, must be filed each year. The date this is due (the ‘confirmation date’) falls 12 months after the incorporation date or ‘made up’ date of your final annual return. Filing of the Confirmation Statement must be completed within 14 days of the confirmation date. This is a reduction to the 28 days previously allowed for Annual Returns.
You can find further, more detailed information on the Gov.uk information page. However, should you have any queries feel free to contact us.
Late filing penalties
Many companies are still failing to meet the nine month filing deadline for their accounts and are not aware of the deadline for filing of their company’s Annual Return, it is not surprising when a company has four deadlines to meet, the accounts filing, the Annual Return filing, the Corporation Tax payment and the Corporation Tax return filing that deadlines are sometimes missed. Monetary penalties are imposed by Companies House for the late filing of accounts and potential striking off action can be implemented for late filing of Annual Returns. HM Revenue & Customs also impose their own fines and interest with regard corporation tax returns and corporation tax payments.
Companies House eReminders
Companies House offer a free, convenient eReminder service which provides those companies who register you with a timely electronic reminder of when accounts and Annual Returns are due for filing.
Recent analysis of the Companies House reminder service has revealed that email reminders are more successful in achieving on time filings, and avoiding those late filing penalties, than paper reminders.
The email reminder service is free and can be benefit as follows:
- Up to 4 people, including your accountant, can receive the reminder.
- Within the reminder is a link for you to file say the Annual Return.
- It’s more convenient and better for the environment.
Here at Kelsall Steele, we of course keep a detailed tracker of all of our clients’ deadlines and regularly send our own reminders, however receiving the email reminders straight from Companies House would certainly give a belt and braces approach in order to avoid late filing penalties for your private company accounts.
Accounts Late Filing Penalties
|Not more than one month
|More than one month but not more than three
|More than three months but not more than six
|More than six months
- The penalties will be doubled if the accounts are filed late two years in succession.
- If you form a new company, you must deliver your accounts to Companies House within 21 months of the date of incorporation so you do not get until a month end, it could be an odd day of the month.
If you have any queries or concerns over the eReminder email service, the accounting or Annual Return deadlines, please give us a call.
Charity Annual Return
The Charity Commission, the independent regulator of charities in England and Wales, have updated the charity annual return form for 2014 in order to better serve the regulatory work and the public’s interest in charities.
The charity annual return must be completed by all registered charities with an income over £10,000 and must be filed within 10 months of their financial year end. All Charitable Incorporated Organisations (CIO’s) are required to submit an annual return regardless of their income.
Previously, charities with a gross annual income of over £1 million had to complete a Summary Information Return (SIR) in part C of the annual return – this requirement has now been removed.
The charity annual return is important because it is a key tool that the Commission uses to inform its regulatory approach, promote good governance and make sure that charities are accountable to the public. The information provided on the return will be used to update the charity’s profile on the Commissions website.
The charity annual return will require a charity to disclose whether it:-
- Has had its accounts qualified by an auditor or independent examiner
- Pays any of its trustees for acting as charity trustees
- Has a trading subsidiary
- Raises funds from the public
- Makes grants as its main activity
- Works with a commercial participator, and, if it does, whether it has an agreement with them
- Has written policies in place on risk management, investment, safeguarding vulnerable beneficiaries, conflicts of interest, volunteer management and complaints handling
- Is regulated by a regulator or registered with any other registrar than the Commission
In addition to this the Commission will also display on the register whether the charity:-
- Was formed by the merger of two or more charities or whether it is a charitable company set up to receive the assets of an unincorporated charity.
- Is a member of the Fundraising Standards Board (FRSB).
- Whether the charity has become insolvent
- Whether the charity is subject to enforcement action by the Commission for non-submission of accounts (where a charity has failed to submit its accounts after repeated reminders and remained in default six months after the filing deadline).
For more information or assistance with completing your charity annual return please do not hesitate to contact us on 01872 271655, or you can email James directly at email@example.com