How to File the LLP Confirmation Statement in the UK?

The entrepreneurs pursue the combined benefits of a traditional partnership with the limited liability of a company, and the business structure of a Limited Liability Partnership (LLP) offers them both.  An LLP is a distinct legal entity that is separate from its partners ( also called members). 

This separate legal status signifies that an LLP can own assets, enter into contracts, sue and be sued, and incur liabilities in its own name rather than those of its members. Consequently, this legal identity is the hallmark of an LLP, for it forms the basis of limited liability protection. 

However, just like limited companies, there are certain legal requirements that an LLP necessarily needs to meet to remain compliant with the Companies House and HMRC. 

One such requirement is the LLP confirmation statement. Accordingly, in this guide, we will outline the step-by-step process of how to file the LLP confirmation statement with the Companies House accurately and on time.

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What is the LLP confirmation statement?

The confirmation statement (form LL CS01 for LLPs) is a mandatory document that must be filed by LLP members at least once every 12 months. This statutory document serves to confirm that the crucial details about your LLP held with the Companies House are accurate and up-to-date.

It is noteworthy that on 30 June 2016, the annual return was eliminated and was replaced by a confirmation statement. Companies House mandates every LLP to verify that the significant information it holds about itself is correct by delivering a confirmation statement.

What details are included in an LLP confirmation statement?

The fundamental purpose of filing an LLP confirmation statement is to ensure that Companies House holds accurate and up-to-date information about your company.

By filing a confirmation statement, you ascertain the accuracy of crucial details held on the public register at Companies House. Furthermore, by doing so, you confirm to Companies House that the following details are accurate and updated:

• LLP name.
• LLP registered number.
• Registered office address.
• LLP members’ details.
• Which members are the designated members?
• Details of people with significant control (PSCs).
• SAIL address (Single Alternative Inspection Location), if applicable. To explain, a SAIL address is an alternative location, which is separate from the registered office. It is where an LLP can keep its statutory records and make them available for public inspection.
• SIC code (Standard Industrial Classification of economic activities).
• LLP’s registered email address.

It is worth pointing out that even if there have been no changes during the year, you still need to file the confirmation statement.

In addition, keep in mind that, except for SIC, you cannot update LLP details using the confirmation statement. Thus, you must report any other changes that occur during the year to Companies House using the relevant forms, either before or at the same time as filing the confirmation statement.

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What is a confirmation date for an LLP?

As previously stated, the prime objective of the confirmation statement is to give a summary of your LLP’s main internal structure on a specific date. This date is referred to as the confirmation date.

Notably, the confirmation date replaces the made-up date of the eliminated annual return. It is the date on which you must verify that your company details are correct.

Additionally, the confirmation date generally coincides with the anniversary of company incorporation or the last confirmation date. Moreover, you have 14 days after the confirmation date to submit the confirmation statement to Companies House.

How to file the LLP confirmation statement?

After learning about the LLP confirmation statement, we will now outline below the steps on how to file it with Companies House:

Review and update LLP Information:

Before you file the LLP confirmation statement, it is mandatory to check that all details are current, including:

• Registered office address.
• Members’ details.
• Statement of capital (if applicable).
• PSC details.
• SIC codes.

You can update these details online by using the Companies House WebFiling service or by submitting separate forms prior to your confirmation statement.

Access the filing system:

Companies House facilitates you by giving you two choices for filing the LLP confirmation statement. You can either complete and submit a confirmation statement online or deliver it via post using form CS01. For your convenience, you should file the confirmation statement online since it is easier and quicker. You can do so by accessing the Companies House WebFiling service.

Moving further, when filing the LLP confirmation statement electronically, you should only check your company’s registered details and confirm they are all correct. On the contrary, if any information requires updating or if it is inaccurate, you must update it by submitting separate forms prior to your confirmation statement.

Alternatively, you can deliver your confirmation statement via post by filling out and submitting the form CS01. However, by opting to deliver your confirmation statement by post, you will be required to input and confirm the necessary information on the CS01 form.

Pay the filing fee:

It is worth highlighting that it costs £34 to file your confirmation statement online. On the contrary, it costs £62 to send a paper form to the Companies House or file your confirmation statement on paper.

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File the confirmation statement on time:

It is one of the crucial obligations of the designated LLP members to deliver a confirmation statement to Companies House at least once every 12 months. Essentially, the deadline for filing the LLP confirmation statement is 14 days following the year of your company registration, or the anniversary of the date you submitted your previous confirmation statement.

For greater clarity, the submission deadline for your company’s first confirmation statement at Companies House is the anniversary of your LLP’s incorporation, i.e., the date you register your company. Then, you have a 14-day period after the deadline to deliver the confirmation statement to the Companies House.

While it is vital for you to learn how to file the LLP confirmation statement, it is equally significant to come to grips with its other aspects, like how an LLP works, how it differs from a traditional partnership, and how it is taxed. In this connection, you can read our following guides to learn about LLPs comprehensively:

How to set up an LLP in the UK? A comprehensive guide.

What is the difference between an LLP and a general partnership?

What are the tax responsibilities of LLP members?

How do LLP members get paid in the UK? Learn the essentials.

Explaining how to remove a partner from LLP in the UK.

Conclusion:

In essence, it is crucial for you to understand how to file the LLP confirmation statement in order to stay compliant with Companies House and ensure it has the updated information of your LLP. Nevertheless, not everything can be as easy as pie.

Filing an LLP confirmation statement can be time-consuming, especially for small LLPs that are more focused on growth. More importantly, failing to file your confirmation statement can lead to penalties, damaged credibility, or even business dissolution.

However, you can stay worry-free by relying on the expertise of the professionals. Fortunately, the registered accountants at Accountingfirms can provide you with essential support in this respect. 

From managing annual filings and updating LLP structures to ensuring your tax obligations are met accurately and on time, the location-based, proficient, and affordable accountants offer across-the-board solutions to keep your business on track. 

Therefore, whether you are registering a new LLP, filing your next confirmation statement, or need ongoing compliance support, let the experts manage your LLP’s filing matters smoothly and cost-effectively.

Let Accountingfirms match you with a qualified accountant in your area today and take the stress away from compliance!

Disclaimer: The information provided on AccountingFirms.co.uk is for informational purposes only and should not be considered as financial advice. Always consult with a professional accountant to ensure compliance with UK laws and regulations.