Recent guidance from Companies House has meant that greater prudence must be applied when informing them about changes to a limited company. Many companies do not inform Companies House of changes to their officers within the 14-day period set out in the Companies Act 2006.
Whilst late filing of changes to their officers has never been recommended (it is a breach of the Companies Act 2006 and may result in a fine for the company and its officers), doing so may now affect a company’s credit rating as reference agencies are choosing to use late filing as a means of establishing how reliable a company can be. Whilst this may seem like a simple rule to follow, even with the online filing system some 53% of companies are failing to inform Companies House of changes to their officer details.
It is important that Companies House is promptly informed of any changes, as the reliability of the UK register is one of the reasons it is considered one of the most trusted places to do business in the world.
In order to prevent issues when seeking credit, you must tell Companies House about changes to a limited company, which include but are not limited to the following
- directors and company secretaries, such as new appointments and resignations
- company name
- registered office address
- accounting reference date
- location of company records
- the share structure.
You can read the full statement by Companies House on GOV.UK.
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