If you are a Business owner you need to be aware of this update. From the 30th June onwards, the long established Annual Return will be replaced by a ‘Confirmation Statement’. What difference does this make? There is still a requirement for an annual return, as such, but with the ‘Confirmation Statement’ you can file an update as often as you choose during the year but will be charged only once.

There is a change in the information required on the ‘Confirmation Statement’. You will now be required to list Persons with Significant Control and your Firm will have to hold a register that contains the same information. In fact, the obligation to hold a register came into force in April, so you should already have a register prepared. Failure to do so can result in fines or imprisonment.

If you would like more information on the finer detail of the ‘Persons with Significant Control requirements, please visit http://www.fcls.co.uk/company-secretarial/psc-register

Private companies can also, from the 30th June, opt to keep their statutory registers at Companies House.

Need some advice on these changes or any other Corporate legal matter? Please call 01483 302000 and ask to speak to Nick Richardson or James Stenning. Alternatively email guildford@rhw.co.uk