The next roll out of the Small Business, Enterprise and Employment Act, which is phase two of the five stage roll out will take place on the 10th October 2015. The implementation is for partial date of birth suppression, the accelerated strike off time frame and consent to act requirements for company officers. This makes changes to the current forms used in company registrations and officer appointments Continue reading “Changes to company registrations and officer appointments”
Tag: Companies Act
The EU Fourth Money Laundering Directive adopted in June 2015
The EU Fourth Money Laundering Directive (4MLD) was adopted in June 2015.
One of the main requirements which are an enhancement over the 3rd directive is that it requires all Member States to hold central registers on company beneficial ownership information from 2017. The UK has been ahead of other Member States in creating its own central register. The directive draws heavily on the UK model although there are some minor differences between the two regimes. Continue reading “The EU Fourth Money Laundering Directive adopted in June 2015”
Changes to the Names Regulations
Changes to the Names Regulations
Changes have been made to the names regulations for improving and simplifying them. It changes have resulted after consultation which also considered the need to maintain the current regulations which, primarily, set out rules regarding ‘same as’ names and ‘sensitive’ words and expressions.
When the changes apply
The regulations came into force on 31 January 2015.
The regulations concerned are:
- The Company, Limited Liability Partnership and Business (Sensitive Words and Expressions) Regulations 2014, and
- The Company, Limited Liability Partnership and Business (Names and Trading Disclosures) Regulations 2014 Continue reading “Changes to the Names Regulations”
Annual Return Reminders
Reminder notices for Annual Returns and Accounts filing
The Small Business, Enterprise and Employment Bill is currently making its way through Parliament and should receive Royal Consent in early 2015. The bill contains a number of measures which together represent significant change for customers from a transparency point of view.
You should also bear in mind the PSC Register that is People with Significant Control which will be a mandatory public register. Continue reading “Annual Return Reminders”
Guidance on the purchase of own shares by a company
HMRC have published a new help sheet for advance clearance applications in relation to the purchase of own shares by unquoted trading companies.
The help sheet, which is meant for use in straightforward situations, explains the conditions that must be met before a payment by a company to purchase its own shares can be treated as an exempt distribution. It also provides details of how a company can make a clearance application in connection with the purchase of own shares legislation.
The help sheet also contains two excellent clearance application checklists, one for purchase benefitting a company’s trade and one for purchase in connection with IHT
The help sheet is available from HMRC.
Transparency and Trust Discussion Paper
Transparency and Trust Discussion Paper to aid Money Laundering Regulations Compliance
Scope of the Paper
On 15 July, Dr Vince Cable, Secretary of State for Business, Innovation and Skills, announced the launch of the Transparency & Trust discussion paper. This sets out a number of proposals aimed at addressing opaque ownership structures and improving the accountability of company directors, to comply with the Money Laundering Regulations.
Continue reading “Transparency and Trust Discussion Paper”
Changes to Part 25 of the Companies Act 2006
Charges – Changes to Part 25 of the Companies Act 2006 (Companies and LLPs)
Subject to Parliamentary approval) will come into force on 6 April 2013. The regulations replace Part 25 of the Companies Act 2006. Continue reading “Changes to Part 25 of the Companies Act 2006”
Incorporation rejects due to s243 exemption
Incorporation rejects due to s243 exemption
Companies House New Incorporations examination teams are rejecting a high number of Incorporation applications due to customers incorrectly ticking the “Section 243 Exemption” box.
Continue reading “Incorporation rejects due to s243 exemption”