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As more economies around the world open up and companies bring employees back to the office, global expansion plans that may have been put on hold last year are now taking shape. It can be challenging to know where to start, but here are some key factors to consider when expanding your operations into new countries.
New Confirmation Statement
From 30th June 2016, a new Confirmation Statement will replace the Company Annual Return which has to be filed each year with Companies House.
Unlike the previous arrangements in respect of the Company Annual Return, there will be no predefined filing date for the new Confirmation Statement; however there must be no more than 12 months between confirmation statements and the filing deadline is 14 days, reduced from 28 days for the annual return.
The Confirmation Statement requires companies to confirm that the details held on the register are correct, and file statements about:
- Share Capital
- Share transfers since the last statement
- People with Significant Control (PSC) register changes (click here for more information on the PSC Register)
Other changes, such as changes in officers, continue to be filed using existing procedures.
For most companies, their first Confirmation Statement will be the first time they are placing the details of the PSC on the public record.
Once the first Confirmation Statement has been filed, your Company Secretary will need to monitor any actions that have an impact on the contents of the Company’s PSC, such as share allotments and transfers.
For more information, contact:
Direct Dial:+44 (0)7587 031 073