This update follows on from our previous article on the topic published in March 2016: http://gdknowledge.co.uk/urgent-persons-with-significant-control-register/
As of the 6th April 2016, there is a requirement to maintain a PSC register with a Company’s Statutory Books. From the 30th June, this information must be submitted to Companies House along with the new annual Confirmation Statements. For companies incorporated after 30th June, the PSC information will need to be supplied to Companies House as part of the company formation process.
It is important, therefore, that the PSC information is up-to-date and that all companies and individuals subject to the new PSC rules are aware that the information will be made public when submitted with Confirmation Statements following 30th June 2016. Residential addresses and the day of birth are not required to be made public at Companies House.
Annual Confirmation Statements
From 30th June 2016, Annual Returns will be replaced with the annual Confirmation Statement filing process.
Rather than being a snapshot of the Company in a moment of time, Confirmation Statements will effectively be a review of the changes to the Company in the previous year. Companies will be required to review the information held at Companies House and either confirm that the data held is accurate or update any changes.
As mentioned above, PSC information will need to be submitted with each Confirmation Statement.
The first Confirmation Statement will fall due on the anniversary of the last Annual Return which was submitted prior to 30th June 2016. From then on, Confirmation Statements will continue to fall due in periods of one year, just as was the case with the previous Annual Return system.
The Companies House fee for submitting a Confirmation Statement will remain the same as it was for Annual Returns: £13 online or £40 by post. A company may choose to file any number of Confirmation Statements to update their records at Companies House during the period of 12 months following the date on which the previous Confirmation Statement fell due without needing to pay an additional fee. Once this 12 month window expires, an additional fee will be payable for the next 12 month period.