When you receive notice that your confirmation statements are overdue, it’s obviously a time of stress for any business owner. If this isn’t your first confirmation statement and you’ve simply forgotten to file it as normal, then you’ll probably be desperate to know what the potential consequences of failing to file your confirmation statement on time is.
First of all, it’s important to note that you won’t receive any automatic financial penalties if this is your first offence and you’re only just overdue. You could, however, notice some issues from a business perspective when filing confirmation statements is significantly delayed. In short, meeting the filing deadline is still important, regardless of any late filing penalties you might face.
Below, we’ll explore what filing your confirmation statement late means for you, when it is typically due for a specific payment period so you don’t miss it again in the future, and how to file your confirmation statements after they are overdue.
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What Is A Confirmation Statement?
Let’s start with the basics. In the UK, if your capital trading status is that of a limited company, then you will need to file an annual confirmation statement. It’s that simple. The form is also known as a CS01, and must be completed every 12 months.
The information requested via the form is designed so that Companies House holds the most relevant, accurate, and up to date information about every registered company in the UK. By keeping up to date with confirmation statements, the UK government can ensure things like tax compliance and financial responsibilities are met by all registered companies in the UK.
Confirmation statements are a legal requirement, and aren’t dependent on whether or not details held have changed. Here, you simply reaffirm the details Companies House holds so they can be sure their records are accurate.
If you’ve been in business for a while, you might remember that confirmation statements used to go by annual return, but this changed in 2016 to try and avoid confusion between annual returns and annual tax returns.
Missing the filing deadline will still hold some repercussions if you fail to file. We’ll discuss this more in depth later, but for now, let’s focus on who needs to file a confirmation statement to begin with.
Who Needs To File A Confirmation Statement?
Every registered company in the UK must submit a confirmation statement annually each year. At the end of each 12 month review period (this differs based on company incorporation date, but more on that next), you must file another confirmation statement.
Note: self employed individuals registered as sole traders don’t need to file a confirmation statement.
Confirmation Statement Deadline
Each company differs in terms of the deadline for their confirmation statement, which can make it difficult to keep track for company directors.
However: every company must file a confirmation statement within 14 days of their 12 month review period.
When Did My 12 Month Review Period End?
If it’s your first year filing, then it’s easy enough to work out. Your very first confirmation statement will be due 12 months and 14 days after you first started the company.
For example, if you incorporated your company on 1st June 2023, then your confirmation statement will have been due on 15th June 2024. 12 months and 14 days after you first incorporated the company.
Each year thereafter, your 12 month review period will start from the day you filed your previous statement, at which point your next one will be due 12 months and 14 days later. For example, carrying on with the dates above, if you filed your first confirmation statement on the 15th June 2024, then your next one will be due on the 29th June 2025, and so on each year.
You can, of course, update your information with a confirmation statement early at any point during the 12 month period. You might do this to update the information held by Companies House when your information changes. This will trigger a new confirmation statement deadline for your next one, 12 months and 14 days later.
It’s important to keep note of your deadline so you don’t miss it. Filing after it is due will mean you’re late. If you do submit your statement late, then a new deadline isn’t triggered like it is if you update Companies House early. If your deadline was the 2nd March 2024, and you filed on the 6th March 2024, your new deadline will still be 16th March 2025, not the 20th.
How To Find Your Confirmation Statement Deadline
Don’t worry, you don’t need to write down your confirmation statement deadline and protect that paper with your life. You can keep track of your confirmation date easily enough online.
The easiest way is to visit the Companies House website. Simply search for your company and view the details listed. Head to the confirmation statement deadline and you’ll be able to see your next filing deadline so you can get prepared ahead of time.
Once you’ve filed, your new deadline will be 12 months and 14 days later unless you’re filing late, but you can check this online after filing at any time using the method above.
What Happens If You File Your Confirmation Statement Late?
Confirmation statement overdue? Sometimes life gets busy, and it can be easy to miss a deadline. So, what should you expect to happen if you file your confirmation statement late?
First, relax. There are no penalties that will automatically trigger when filing late. No automatic fine to worry about here. You’ll simply pay the annual fee of £34 to file online as normal, or £62 by post. However, there may be other consequences if you choose to ignore the automatic warning that will trigger when you’re late.
If warned about a late filing and ignored, your company could be struck off the register, meaning you can legally no longer trade. In the UK, you can also face prosecution as a company director as you would be considered in breach of the Companies Act 2006 if you continue to ignore warnings – a criminal offence. This carries a maximum fine of £5,000.
When overdue, you’ll usually receive a warning from Companies House reminding you that you’re late. Filing immediately upon receiving the warning will usually mean no further action.
How To File An Overdue Confirmation Statement
Don’t worry, there is no unique process you have to go through if you’re filing after the filing deadline. Simply file using the typical method:
- Search for your company on the Companies House website.
- Check through your company details, including:
- Company director and company secretary information
- People with significant control (PSCs)
- Statement of capital
- The company’s registered office address
- Trading status of shares
- Use the Companies House WebFiling Service to update any company details that may have changed since your last confirmation statement was filed.
- Pay your annual confirmation statement fee. This is currently set at £34 for online filing and £62 for postal filing as of the 1st May 2024.
How To Avoid A Late Confirmation Statement
Penalties can be severe for missing filing deadlines, especially when warnings are ignored, and you could face criminal proceedings if you’re a repeat offender and/or you continually ignore Companies House’s request to file. It’s essential, then, that you stay on top of filing.
The best way to ensure that you file your confirmation statement on time and avoid missing the deadline is to sign up to the free email reminder service that is offered by Companies House. This will send you reminders when you are nearing the deadline of your confirmation statement, helping you to file your confirmation statement on time.
Alternatively, you could consider paying an external company or accountant to handle your confirmation statement. They will file the confirmation statement on your behalf each year, ensuring that you don’t miss the deadline.
We’d always recommend filing a confirmation statement whenever changes occur within your company immediately, even if your date is a while away. This ensures that your company details are always up to date with Companies House, reducing the last minute panic when it comes to submitting your confirmation statement. This way, when your confirmation statement deadline does come around, the changes you’ll need to make should be minimal, so that you can complete the paperwork quickly and without stress.
Can I Do My Own Confirmation Statement?
It can be tempting to pay an external company to handle your confirmation statement, especially when you know how severe the penalties can be for an overdue confirmation statement. However, this is a simple piece of paperwork that can usually be completed quickly and easily by a director or secretary of the company.
The cost of completing a confirmation statement is £34 if the statement is completed online. This is a nominal fee. However, an external company can charge in excess of £100 to complete your confirmation statement on your behalf, so you could make a significant saving by filing your confirmation statement yourself.
However, many companies enjoy the peace of mind that comes with outsourcing their confirmation statement. By handing over responsibility to an external company, they know that their confirmation statement will be completed on time and correctly, reducing the chance of it becoming overdue.
It really is down to personal preference whether you choose to complete your confirmation statement yourself or to outsource it to an external company or accountant.
How Long Does It Take To File A Confirmation Statement?
How long it will take to file your confirmation statement will depend on the number of changes that need to be made. If nothing has changed within your company during the review period, you will simply need to confirm that all details are correct and pay the fee. This can take as little as 15 minutes to complete.
If anything has changed within your business during the 12 month review period, you should expect it to take a little longer to file your confirmation statement. This is because the changes will need to be made before the confirmation statement can be filed. However, you can expect it to take around an average of one hour to file your confirmation statement with new information.
In Summary
Every limited company in the UK must file an annual confirmation statement. This confirms to Companies House that your company details are registered correctly and that any changes have been updated accordingly. The confirmation statement must be completed within 12 months and 14 days of the start of your review period.
Thankfully, your confirmation statement being overdue is not something you need to worry about if you’ve only just received a warning from Companies House. Providing you complete your confirmation statement as soon as possible, you’re unlikely to face a penalty for missing the deadline.
However, it’s important to be aware that failure to complete your confirmation statement after warnings from Companies House could result in your company being taken off the register and banned from trading. It is therefore important to complete your confirmation statement on time wherever possible, and as soon as possible after the deadline, should you miss it.
