Changes to Companies House notifications once again
May 5th, 2017
Just when we are all getting comfortable with the idea of identifying a “person with significant control” the goal posts are moved!
Last year, annual returns were replaced with confirmation statements. These statements no longer disclose details on shareholders but do need companies to identify people who control the organisation.
Twelve months on, it appears that Companies House has captured the information requested on all businesses, or at least on those who have bothered to file, and no longer want us to keep this information up to date annually via the confirmation statement.
Oh no, now they want us to inform them of changes within 28 days of the date of change! From 26 June, companies have just 14 days to update the statutory register and a further 14 days to file the change with Companies House. This does make sense as, in practice, information on public record could be 12 months out of date on inspection. This was always a problem with shareholder details via the annual return.
However, I suspect this will be another area that will be overlooked within companies, unless someone is formally given responsibility of maintaining the statutory records.
I have no idea of the penalties for not updating within the time frame but I’m sure we will learn more as the date draws near!
If you would like to discuss this further please do get in touch.
Written by Joanne Regan
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