The SHO1 form is the return of allotment of shares form and this is a document that must be filed with Companies House as part of the process of allotting shares of your company. The director files this form, and it must be done within one month of the shares being allotted. Once the form is filed and accepted by Companies House, the details from the form will be shown on the public register for your company.
The SHO1 form can be filed by the director electronically or send through post. However, you choose to file it, you must include the same information on the form. Many people find that filing the form electronically is the fastest and easiest way to get it to Companies House. Many formation company agents also offer assistance with this filing and can submit it to Companies House for you if you choose.
The SHO1 form became current in 2009 and since this date, details of new shareholders are not required. This information is however, required when your next confirmation statement is submitted or when your next annual return is due. If you have a series of allotments, you can record all of them on just one form. Be certain that the statement of capital reflects your company’s position following your last allotment.
It is worth noting that your SH01 form does not need to be filed for shares that you issue in your company at the time of your incorporation. This information was provided in your IN01 form. The SH01 form is only for new shareholder information.
You must include correct figures, which could mean understanding certain financial terms such as nominal value, unpaid shares and share premium. Remember that if you are notifying Companies House of a new series of allotments on the same form, you will need to file within a month of the earliest of these allotments. You are permitted to file individual SH01 forms as well, and if you do so then you need to try to submit the forms in the order in which your allotments are processed. This helps you to keep the information up to date as it is shown on public record. It may be easier to wait before submitting a new form until the former form is processed.
After you have submitted your SH01 form, you should ensure that you update your register of members. A company formation agent can help you with this if you need assistance. Most will calculate the updated statement of capital for you and configure the nominal value and share premiums for you, as well. If you have trouble with the paperwork, you can opt for this assistance and most companies only charge a nominal fee for doing so. It is a good way however to ensure that these forms are filed properly and on time and that all of the information that is included on them is correct. The form will be populated and then sent to Companies House electronically on your behalf.