I have a new client who set up their own company and filed dormant accounts before coming to see me and it transpires that the shoreholding is actually incorrect so I said it was something that could be changed now and then updated on the next Annual Return. The first Annual Return has already been submitted.
However the incorrect shareholding is proving to be a problem with the bank and they are insisting that it has to be changed at Companies House...
Can I filed an amended Annual Return and will it update the shareholding on Companies House? Ive explained the situation to the client but the bank wont budge on it!
PS - does it need to be this difficult to create a new post on here? The screen keeps jumping around and I have to put a load of useless infomation on now!
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No, well....
You can, the Companies House website will accept it (and the £13 fee), but it will have no legal standing and teh bank will not accept it normally
What you can do is send the bank copies of the share certificates and share register, and possibly a board meeting record approving correct shareholding.
Just done exactly this for exact ame reason (except it was a **** accountant who wrongly set it up for them). Cost them £50 and now they have a bank account all sorted
You can file an amended return as at the same date as the original return and you also have to file with it, a form RP04. These all have the be filed on paper but there is no additional fee.
Your time on this will end up being more expensive than worrying about the additional annual return fees. Just file a new annual return and pay the £13 fee so that the shareholding is updated. If indeed you are happy that this is correct.
Only way to update shareholding details is via the annual return.
The bank will be able to see the new details via companies house within 48 hours!
Companies House do not keep a register of shareholders, so they cannot update it! All they do is require a list of shareholders to be included with the Annual Return. They do not check whether documents submitted are consistent with each other. All they do is check whether an individual document is properly prepared. Therefore just file a new Annual Return made up to one day after the old one (so that it is clear which is the more recent position). The bank will just look at that one. The fact that it is inconsistent with earlier documents will not matter.
Not strictly relevant to the OP, but I understand from June 2016, the Small Business, Enterprise and Employment Act will allow private companies to keep their statutory books at Companies House.
Very interesting. I've googled it and can see it mentioned on several accountants' and solicitors' websites, but how do you actually elect for it. Is there a CH form/election to make?Not strictly relevant to the OP, but I understand from June 2016, the Small Business, Enterprise and Employment Act will allow private companies to keep their statutory books at Companies House.
This is where I have to admit to being much less helpful than my previous post might have made me appear. I don't know but I imagine the annual return well the new version of it, anyway) will ask you where the statutory books are kept.
You can file an Annual Return made up to any date of your choosing. Future Annual Returns will then be due on that new date.
Just for clarification what is actually wrong with the shareholding on Companies House?
Whilst the AR is appropriate re disclosing the allocation of ownership re shares issued it is not appropriate if say extra shares have been issued by the company (post incorporation)but this has not been notified to Companies House, if this is the issue I would look to possibly submitting a SHO1.
You need to file RP04, along with a paper copy of the corrected AR01, for the inaccurate period(s). There is no fee for this. Better to get it right for the inaccurate period(s).
