Companies House changes


Companies House changes are coming into place from June 2016.

If you run a small business, you will be more than familiar with your Annual Return.

However, from June 2016, the Annual Return is being replaced with the Confirmation Statement.

It is still a matter of checking and confirming the information that Companies House hold and informing them if there are any changes.

You can make as many changes as needed through the year, but you will only be charged once.

As part of your first confirmation statement you must also provide the information found in your register of people with significant control (PSC).

A PSC will need to be kept by companies, LLPs and SEs .

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According to Companies House :

“For most companies these will be individuals who:

  • hold more than 25% of the company’s shares
  • hold more than 25% of the company’s voting rights
  • have the right to appoint or remove the majority of directors

If an individual does not meet the above conditions, check to see if you have anyone who:

  • has the right to, or actually exercises, significant influence or control over the company
  • has the right to, or actually exercises, significant influence or control over a trust or company that meets one of the above condition “

The above individual’s usual address will not be available as part of the public register and neither will their date of birth. All the other information will be available as part of public records.

 

All the above changes are part of The Small Business, Enterprise and Employment Act, first published on November 17th 2014 and last updated on March 27th 2016.

 

For more information, visit Legislation News  or get in touch to see how InAccounts can help!