Confirmation Statement CS01: A Comprehensive Guide

The Confirmation Statement CS01 is a crucial filing for businesses in the UK, required annually to ensure that a company’s records with Companies House are up to date. This filing confirms essential details about the company, including its registered office address, directors, shareholders, and share capital. In this guide, we will explore the ins and outs of the Confirmation Statement CS01, how to complete it, the importance of timely filing, and the consequences of missing the deadline.

What Is a Confirmation Statement CS01?

A Confirmation Statement (CS01) is a mandatory submission required by Companies House. It replaces the old Annual Return and must be submitted every 12 months. The purpose of the CS01 form is to confirm that the company information on file is accurate and current. This includes essential details like registered address, directors, and shareholders.

Unlike other filings, the Confirmation Statement doesn’t necessarily introduce new information. Instead, it confirms that all previous filings remain accurate. If any changes have occurred within the reporting period, such as changes in share capital or directorships, these must be included with the submission.

Why Is the CS01 Important?

The CS 01 form ensures transparency in the business world. It allows government agencies, investors, and the public to access accurate information about a company. Maintaining up-to-date records is not just a legal obligation; it also fosters trust.

Companies House has stringent rules around filing this form. Late filings can result in penalties, and consistent non-compliance could lead to the company being struck off the register. Top accountancy firms in the UK, like XactAccountants, always advise businesses to ensure this filing is handled efficiently and punctually.

Who Needs to File a Confirmation Statement?

All limited companies, regardless of their size, must submit a Confirmation Statement to Companies House. This includes public limited companies (PLCs), private companies limited by shares (Ltd), and companies limited by guarantee. Even dormant companies are required to file a CS01 form, ensuring that Companies House has accurate records of their existence and status.

What Information Is Included in the CS01?

The Confirmation Statement covers a broad range of company information, some of which is outlined below:

1. Registered Office Address: This is the official address where all communications and notices are sent. If your company has changed its registered office, this information must be updated.
2. Directors’ Details: The full names, dates of birth, nationality, and service addresses of all directors must be confirmed or updated if necessary.
3. Shareholders and Share Capital: For companies with shares, the CS01 will also need to confirm details of shareholders and the distribution of shares.
4. SIC Codes: These are Standard Industrial Classification codes that describe the nature of your business. You must confirm or update the correct SIC codes when filing the CS01 form.
5. People with Significant Control (PSC): A PSC is an individual who holds more than 25% of a company’s shares or voting rights. If this information has changed, it must be reported on the CS01.

How to File a Confirmation Statement CS01

Filing a CS01 form can be done online through the Companies House website. The process is straightforward, but accuracy is critical. Companies House provides a digital portal where the form can be completed and submitted. This online system ensures that filings are processed swiftly, often within 24 hours.

For those preferring a paper option, a CS01 form can also be filed by post. However, the processing time is slower, and there are additional costs associated with postal filings.

Step-by-Step Process for Filing a CS01 Online

1. Login to Companies House: Use your company’s authentication code to log in.
2. Review Company Information: Confirm all company details, including registered address, SIC codes, directors, and shareholders.
3. Report Any Changes: If there have been changes during the reporting period, update the relevant sections.
4. Submit the CS01 Form: Once all information has been confirmed and updated, submit the form and pay the filing fee.

Importance of Timely Filing

The Confirmation Statement must be filed annually within 14 days of the anniversary of the previous filing. Late filings may result in penalties, and persistent failure to file could lead to more severe consequences, such as the company being removed from the Companies House register. This is a situation best avoided, and many top accountancy firms in the UK, including XactAccountants, offer services to ensure that all filings are completed on time.

What Happens if You Don’t File a CS01?

Failing to file a CS01 within the designated timeframe can lead to fines. The company will initially be sent reminders by Companies House. If no action is taken, the company could be struck off the register, and its assets seized by the Crown. This is a serious consequence, and businesses should prioritize compliance to avoid such outcomes.

Additionally, a company that has been struck off is not legally allowed to continue trading, and its directors may face personal legal liability for the company’s debts.

The Role of Professional Accountants in Filing the CS01

For many companies, especially growing businesses, managing annual filings can be time-consuming and complex. Professional accountants, like XactAccountants, offer tailored services to handle all statutory filings, including the Confirmation Statement CS01. These professionals ensure that all filings are completed accurately and on time, reducing the risk of penalties and legal complications.

By leveraging the expertise of top accountancy firms UK, businesses can focus on their core operations while maintaining full compliance with regulatory requirements.

How Much Does It Cost to File a CS01?

The cost of filing a Confirmation Statement depends on how it is submitted. Filing online costs £13, while a paper submission costs £40. This fee must be paid at the time of submission, and it applies every time a CS01 form is filed. Many businesses choose the online route because it is quicker and more cost-effective.

Common Mistakes to Avoid When Filing a CS01

While filing a CS01 form is relatively simple, there are common errors businesses should avoid:

1. Failing to Report Changes: If changes in the company structure, directors, or shareholding have occurred, they must be reported.
2. Missing the Filing Deadline: The 14-day window is strict, and missing it could lead to penalties.
3. Incorrect SIC Codes: Ensure that your SIC codes accurately reflect your company’s activities.

How Can XactAccountants Help?

XactAccountants specializes in helping businesses manage their annual filings, including the Confirmation Statement CS01. With years of experience handling company compliance, they ensure that all documents are submitted on time and in line with regulatory standards. This support is invaluable for companies that want to avoid legal pitfalls while maintaining a strong business reputation.

Conclusion

The Confirmation Statement CS01 is an essential filing for all UK companies. It ensures that Companies House has the most up-to-date information about the company, which is vital for transparency and legal compliance. Filing this form accurately and on time is crucial to avoid penalties and ensure the continued operation of the business.

By working with expert accountants like XactAccountants, businesses can ensure that their filings are handled professionally, giving them peace of mind. Maintaining compliance through timely submissions of the CS01 form is not just a legal requirement—it’s an essential part of running a successful business.

In conclusion, businesses must prioritize their Confirmation Statement submissions to stay compliant and avoid any unnecessary penalties or disruptions.