Important changes are coming that will affect your company. This article explains the changes and tells you what you need to do.
From 6 April 2016 you needed to start keeping a record of the people who control your company - your PSC's. There are criminal penalties if you don't do this.
For most companies these will be individuals who:
If no individuals meet the above conditions, check to see if you have anyone who:
From 30 June 2016 you need to provide Companies House with the details of your PSCs. In most cases you'll do this as part of your first confirmation statement. If you don't have any PSCs or you're still trying to confirm who they are, you'll have a selection of statements to choose from.
Also if you believe any of your PSCs should be covered by Companies House protection regime, read the additional guidance carefully for details of how they can apply to have their information protected.
From 30 June the annual return is being replaced by the confirmation statement. At least once every year you'll need to review the information Companies House hold about your company and confirm it's correct or that you're updating it at the time you make the statement. You'll be able to do this online.
To complete your confirmation statement you'll need to:
As part of your first confirmation statement you must also provide the information contained in your register of people with significant control (PSC).
If your company information changes at a later date, you can make a confirmation statement to update your record and confirm it's correct. You can confirm your record is up to date as many times as you need to. You'll only be charged once each year.
You can read the additional guidance on Companies House website or get in touch with your contact at Thomas Westcott to make sure you're fully aware of these changes and understand what you need to do from April 2016.
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