The next stage of Company Law changes: the PSC Register goes on-line, it’s time to get your Confirmation Statement ready
The end of June will see the implementation of another stage in the programme of reform of Company Law under the Small Business Enterprise and Employment Act 2015.
From 30 June, companies will no longer be required to submit an Annual Return to Companies House. Companies will instead need to file a Confirmation Statement (CS01) to give the information previously contained in the ARO1 – details of directors, shareholdings etc. The first Confirmation Statement will need to be filed on the date the Annual Return would have been due. Companies can then choose either to update the registers at Companies House whenever they do any “event driven filings” (appointment of a new director for example) or if, their details have not changed during the year, you can opt to “check and confirm” the information held on the register.
The Confirmation Statement will also need to include the details which are now required to be held on the new PSC Register, so these details will now be publicly available.
Note the 28 day filing period available for the Annual Return has been reduced to 14 days for the Confirmation Statement. Companies with Annual Return dates on or shortly after 30 June will need to be getting ready to file the new forms, or considering whether to file early before the changes come in, using the old AR01.