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Companies Act 2006 Section 401 Exemption

Do I have to file the Foreign Parent Accounts at UK Companies House?

I have a medium-sized group wholly situated in the UK that currently files consolidated accounts. If I introduce a foreign parent company above the UK parent (say in IoM) do I have to file any consolidated accounts for either the UK parent or the ultimate foreign parent at UK Companies House? 



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20th Oct 2017 15:48

That depends on where the new foreign parent is established, and whether the new parent itself prepares consolidated accounts.

If your new parent is established outside of the European Economic Area, you still have to prepare and file consolidated accounts for your existing group.

If your new parent is within the EEA, AND prepares consolidated accounts, then you no longer have to file consolidated accounts for the 'old' group so long as you file the consolidated accounts of the new group with the individual financial statements of your old parent company.

If your new parent is within the EEA but doesn't prepare consolidated accounts, you have to carry on as you are now.

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