We would like to inform you that starting from the 1st of July 2016, the Companies House applied some changes to the Annual Return.
The submission of Annual Return was used by the Companies House to match registered company data (such as registered office address, owner name, etc ...).
Please note, Annual Return is not to be confused with Annual Account, which provides insights into companies' gain/loss and changes to assets in a fiscal year!
As a result of the current change, as of the 1st of July 2016, companies should no longer submit the Annual Return. Instead, the so-called Confirmation Statement needs to be handed in.
This new declaration must be submitted electronically, which costs the same as the Annual Return submission fee, an annual £13.00 (this fee is exempt from VAT).
Basically, it contains similar information as the previously used Annual Return, but also contains an important change, which was previously not indicated.
The Confirmation Statement needs to include the so-called PSC (Person with Significant Control). As the name suggests, this person has a significant influence over the company.
Normally, this means the director or owner.
However, in some cases directors and/or owners delegate executive power to someone else.
For example, if a company is under liquidation, and a lawyer is empowered to complete the process, he or she needs to named as PSC.