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Chartered Accountants are often asked what a certificate of good standing is and why one might be required and this article will answer both of those questions. A good standing certificate states that a UK company has been in continuous, unbroken existence since its incorporation and it is issued by Companies House. The document also confirms no action is currently being taken to strike the company off the UK company register. In order for a Certificate of Good Standing to be issued by Companies House there are certain conditions which must be met. The company’s annual return and accounts must be filed on an annual basis and be kept up to date. If a company is late in filing its annual return, or has failed to update information about the company's constitution, ownership, or control it will not qualify for a good standing certificate until these issues are rectified. Companies House will also need to verify that the company has at least one ‘human’ director, though this is already a precondition of registering a company in the UK. The certificate can contain a number of printed details including: - Directors names - Secretaries names - Registered office - Issued Capital - Shareholders (names, shareholdings) - Company Objects Along with the company details, you are also able to have personal director details such as your date of birth and nationality printed on to the Certificate of Good Standing. Banks, financial companies and other interested parties from the UK or abroad sometimes would ask for a good standing certificate to ensure that the company's records with Companies House are in order. Displaying a Certificate of Good Standing also reassures customers and suppliers that they are engaging in business with a trustworthy company. Chartered Accountants who provide a company formations service can assist you in obtaining a Certificate of Good Standing. Contact the Wisteria team on 020 8952 0140 or alternatively e-mail us at [email protected] and we would be happy to help.
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