SAIL stands for the Single Alternative Inspection Location. It was introduced on 1 October 2009 under the Companies Act 2006. The purpose of SAIL is for the company to register the address of where your company records and registers are kept when it is not kept at the registered office.
Nowadays many businesses are run from home. Business owners would prefer not to use their home address as their company registered office. This is because their home address would be in the public record. In other words, anyone is checking on their company with Companies House can see it.
For this reason, they usually sign up for registered office address services from a company formation agent or using their accountant’s office address as their registered office address. While they keep their company records and registers at their homes or at other addresses.
Register SAIL address with Companies House
Your company is to disclose the address where your company keep your records and registers. Your company is allowed only one SAIL address at any one time. If it is the first time you are notifying Companies House of your SAIL address, then submit the form AD02.
Change of SAIL address with Companies House
If you change your SAIL address, for example, you are no longer working from home. You have moved to a new office and that you intend to keep your company records and registers there. Then you file the Form AD03 with Companies House.
Company registers moved back to Registered office address
Subsequently, If you moved your company records and registers back to your registered office, then you file the form AD04 with Companies House.
Your confirmation statement
You must include the most up to date registered office address and your SAIL address in your company’s confirmation statement.
Failure to submit your confirmation statement with Companies House is a criminal offence and you may receive fines. Your company may risk being struck off.
Your company must keep and maintain a Register of directors’ interest in shares and debentures. This applies to every company registered with Companies House in the United Kingdom.
Generally, the register of directors’ interest in shares and debentures is a record of the extent to which your directors have invested personal wealth in the company and their dealing in securities. Why you must keep and maintain this register? Because your other shareholders would be interested to know.
Definition of interest
The meaning of interest in the context under the UK company law are:
Interest under a trust.
Interest owned by a company in which the director owns one-third of the voting rights.
Entitlement to exercise any rights in shares.
For this purpose, the interests of your directors’ spouses and their infant children and your shadow directors are included. Consequently, your register must keep both acquisitions and disposals of by sale or assignment. In addition, if your director has to the rights to exercise share options, this as well.
Location of your register of directors interest in shares and debentures
Usually, your Register is kept your company’s registered office address. However, if your Register is kept at a different address, your company must notify the Registrar of Companies of this. In this case, you must submit the Companies House form AD02. This address is called the SAIL address.
On the other hand, the register must be made available at your Annual General Meeting. Even though it is not mandatory for your company to disclose who is the ultimate controlling party of your company. However, you must disclose the person with significant control or influence to Companies House. You must include this information in your Confirmation Statement.
Below is the list of new Companies House forms for limited companies introduced by the Companies Act 2006. all companies must use these forms to notify Companies House of any notifiable events from 1 October 2009.
Companies House will reject your company’s Confirmation Statement if you have changed your company details but no relevant Companies House form was filed for the change.
For example, you have recently changed your company registered office address to your home address. You specify your home address as your company registered office address in your confirmation statement but Companies House records have your old registered office address and did not receive the form AD01 from you. then your confirmation statement will be rejected.
Also, Companies House would reject incorrect or incomplete forms. Click here for the common errors made by applicants when writing their company names on the Companies House forms.