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BUSINESS TIPS

When do I need to file an Annual Return?

It is necessary for all companies to file an Annual Return every year. The made up to date of the Annual Return will be a year after the date of the previous Annual Return or a year after the company was incorporated if it is the first year of the company’s existence. The company’s directors and company secretary must file the Annual Return within 28 days of the made up to date.

In some cases it may be necessary or desirable for a company to file an Annual Return more often. For example, if the company’s SIC (Standard Industrial Classification of Economic Activities) code has changed, this can only be updated with Companies House through the Annual Return. Additionally, if share transfers have occurred during the year and the company wishes to update the shareholders within the Companies House database, currently there is not a specific form to do this, so the change must be reported through an additional Annual Return.

Companies House will send all companies a reminder letter shortly before the made up to date occurs. This will be the only reminder that Companies House will send before the deadline. It is important that the Annual Return is filed before the deadline as failure to file the Annual Return on time can lead to the directors being criminally prosecuted or being fined. Additionally, if the Annual Return is weeks overdue it is likely that Companies House will seek to strike off the company and begin the process to dissolve it.

To avoid any potential penalties or issues, the Annual Return should be dealt with as soon as the made up date has passed.

For more information please contact us on 020 8429 9245 or visit our dedicated company secretarial website www.wisteria-corporate.co.uk.