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Companies (Annual Return) Regulations 2006 1 December 2006

Following a public consultation on the content of the annual return form, the Financial Supervision Commission has made the Companies (Annual Return) Regulations 2006. The annual return form takes into account comments and concerns raised in Tynwald and as a result of the consultation. A copy of the consultation and comments is available on the Commission’s web site.

The prescribed content of the annual return form for a 2006 Act company can be summarised as follows –

(a) Registered agent’s name and address

(b) Registered office address

(c) Directors’ names and addresses as shown on the register of directors including any changes since the last return date or, in respect of the first annual return, since incorporation or first registration under the Act.

(d) Confirmation that the company has complied with the requirement to maintain accounting records.

Please note that the annual return date for a 2006 Act company is always the anniversary of its date of incorporation. Thus, when a 1931 Act Company converts to a 2006 Act company, or a company continues into the Isle of Man from another country, the company’s return date is the date of its original incorporation and not the date of its conversion or continuation.

The filing fee of £70 for the annual return has already been prescribed by the Commission under the Companies (Fees, Duties and Penalties) Regulations 2006. A late filing fee, dependant on the length of delay in submission of the document, has also been prescribed by those regulations.

Subject to Treasury approval, the Commission is still discussing with Income Tax the possibility of collecting the “corporate charge” with the filing fee for the annual return form in much the same way as the Companies Registry currently collects non-resident company duty. There may be changes to the annual return when these discussions have concluded.

Copies of all forms, regulations and practice notes are available on the Commission’s web site in the Companies Registry area at www.fsc.gov.im If you have any queries in relation to the above, please contact the Senior Manager in the Companies Registry on 689389.

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