Annual Return Changes

Annual Return Changes – today the “Confirmation Statement ” replaces the Annual Return.

Previously the Annual Return was a return of company details including address,
officers and shareholders on an annual basis. From 7 July 2016 the Annual Return has become the Confirmation Statement, and you need to be aware of the implications that this has on you and your company.

What changes?

1. People with significant control have to be disclosed.
2. Company details such as an address, officers and shareholders have to be confirmed at least once a year.
3. Paper filing of the statement will now cost £40.00, whilst the online filing remains at £13.00.

Who are people with significant control?

Companies, LLPs and SEs need to keep a register of people with significant control (‘PSC register’) from 6 April 2016.

A PSC is anyone in a company, LLP or SE who meets one or more of the conditions listed in the legislation. This is someone who:

• owns more than 25% of the company’s shares
  holds more than 25% of the company’s voting rights
• holds the right to appoint or remove the majority of directors
• has the right to, or actually exercises significant influence or control
• holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first 4 conditions.

Tracy deals with all of our Company Secretarial matters – if you have any issues please do not hesitate to give her a call or email her: tracy@vjhancockandco.ltd.uk

Further information on the changes to implemented by Companies House can be found here.