The annual return which is currently lodged at Companies House is being replaced with an annual check-and-confirm ‘confirmation statement’. This form will also make the statements of capital easier to complete because the statement of capital is to be amended to remove the requirement for companies to include the amount paid up and unpaid on each share. Instead, companies will be required to specify the aggregate amount unpaid on the total number of issued shares.
The changes relating to the annual return are scheduled to come into force in June 2016 and companies will have to adjust to the new annual reporting regime. However, a benefit of the new regime is that it should be easier to align the timing of the preparation of the company’s confirmation statement with its annual accounts.
Let’s hope that Companies House will do away with the frightening “Urgent Action Required” reminders at the same time.
Feel free to call if you need any assistance with this!
Paul
