The confirmation statement (annual return) CS01
When you open the company for the first time, you get a confirmation statement from Companies House to authenticate the company’s data. This information is displayed in the register after the data is confirmed.
The confirmation statement has to be submitted annually unless you have appointed another director which is a significant change in the company. It is simply clicking through the website and submitting a new statement.
This guide below will give new company founders a detailed knowledge about the confirmation statement.
Is a Confirmation Statement the same as an Annual Return?
People often confuse a confirmation statement with the annual return. To begin with, the Companies House confirmation statement form is called CS01. It is less complicated than the annual returns and is needed only to verify that the public register information is correct. If there is no change you simply have to confirm online that the records with the public register are accurate.
What does the Confirmation Statement include?
You don’t have to give in every information of your company like the tax details. Filling up the confirmation sheet is fairly simple because it contains information like the company address, names and national insurance number of the directors. After setting up the information for the first time rarely any change is made to it, but it must be done every year.
Is it possible to report changes with the Confirmation Statement?
The statement works in a similar manner like the annual returns and can be used for reporting changes. The updated information includes details of shareholders, people with a strong hold over the company and their SIC codes.
However, there are particular information that can be updated with the help of special forms only. For instance, the appointment or removal of a director is important and you will have to fill in a different form for it. On acceptance of these forms, the annual return will be updated when it is time.
Is there a Deadline for the Confirmation Statement?
The confirmation statement requires yearly submission within the ‘confirmation date’. The date when you had set up the company is used as the default date, but you can always select a date of your choice. Following the anniversary date, the confirmation statement has to be submitted within 14 days.
Who Will be Filing It?
Online submission is the preferred way of submitting the confirmation statement since it is more convenient. Some companies also submit paper statements, but the directors have to make sure that it reaches the Companies House in time.
Not submitting the confirmation statement is a criminal offence and the Companies House can close the company and even confiscate its assets. Alternatively, you may have to pay a fine as well as present yourself in court.
What’s the Difference between the Annual Accounts and Confirmation Statement?
Both of them require annual submission. This statement shows the company’s structure and has to be performed annually.
The annual account details the financial condition of the company and determines how much tax you pay. A financial advisor can help in this regard.