New Filing Changes at Companies House
The Small Business, Enterprise and Employment Act 2015 came into force on 30th June 2016 bringing in some new changes that all business owners need to be aware of.
A summary below briefly explains two of the new changes.
Change of the Annual Return
As of 30th June 2016 Annual Returns are no longer required for companies. Instead they have been replaced with a Confirmation Statement which will ask you to confirm that all updated and filings have taken place in the previous year. The idea behind the change is to reduce the administrative burden on companies. This will allow changes in shareholdings, for example, to be reflected almost immediately rather than waiting for the following year.
Filing of the PSC Register
A PSC is a ‘Person of Significant Control’. This is a new document which should be registered at Companies House and then also kept at the company’s registered office, although exceptions can apply. The PCS register records those individuals or companies that have controlling or influential stakes in a company. The idea behind it is to encourage businesses to be more transparent in the commercial world.
For any queries on the new updated filings at Companies House, please contact Nicola Lucas on 01279 755777 or email firstname.lastname@example.org.