Why annual returns matter
Why your company needs to complete annual returns and what happens if you don’t.
It’s a legal requirement that all companies complete an annual return every year on the Companies Register.
Annual returns confirm the details recorded for your company are correct. They also tell us that your company is still operating.
What happens if you don’t complete an annual return
If you don’t complete your annual return, the Registrar may remove your company from the register, which means it would cease to exist.
This could have serious consequences. For example:
- Your company’s assets (including land) would become Crown property.
- Your business would have difficulty obtaining credit.
- Your directors could be held personally responsible for the company’s unpaid debts and other financial obligations.
What you should do if your company is closing
If your company is closing down you should ask us to remove it from the Companies Register. Before you apply there are a number of things you need to do.
For instance, when your company closes, you must meet all of your filing requirements with Inland Revenue. To confirm that this has been done you will need to provide us with a ‘no objection’ letter from Inland Revenue. We recommend that you call Inland Revenue and talk about closing your business. They can answer any of your questions. It also means they will not send you any more letters or returns.
Other guides in
Company annual returns
- Completing an annual return
- Requesting an extension to complete an annual return
- Changing your annual return filing month