Raworths LLP
Changes to Company Reporting Requirements Changes to Company Reporting Requirements

Legal Articles

Sep 16

Changes to Company Reporting Requirements

The annual return, a fixture of the company reporting cycle for decades, is being replaced by a simpler ‘confirmation statement’.

The main impact of the change is that the confirmation statement will not require information that has not changed to be reconfirmed and the requirement to report details of ‘persons with significant control’ has been included.

In simple terms, a person with significant control is one who:

  • owns more than 25 per cent of the company’s shares;
  • controls more than 25 per cent of the company’s voting rights;
  • has a right to appoint or remove a majority of the board of directors; or
  • can exert significant influence or control (directly or indirectly) over the company.

There are a number of other minor changes and the information to be filed when a company is formed has been altered somewhat.

Guidance on the new confirmation statement can be found on the GOV.UK website.

Source: Commercial

  • « Older Entries
  • Newer Entries »

‹  Return to News / Articles

Other Articles

Mar 18

GDPR Guidance

If you have not yet taken steps to ensure your business complies with the General Data Protection Regulation (GDPR), the time to start is now: less than two months remain...

MORE

Mar 18

The GDPR and Your Firm's Pension Scheme

The press is awash with comment about the General Data Protection Regulation (GDPR), which will be fully enforced from 25 May 2018. It would be difficult for any organisation not...

MORE