With the transition period formerly agreed by the UK and the European Union (EU) as part of the former’s departure from the bloc nearing its end, Companies House has written to European Economic Area (EEA) companies about changes in filing requirements that will soon come into effect.
More specifically, the Registrar has said that from 11pm on 31 December 2020, EEA companies registered with Companies House in accordance with the Overseas Companies Regulations will be required to provide further information, aligned with that demanded of non-EEA companies.
What extra details will such firms be expected to provide?
Companies House has stated that the additional information it expects EEA companies to supply will include details on the law under which the given company is incorporated, as well as the address of its principal place of business or registered office.
These firms will also be asked to outline the company’s purpose – its ‘objects’ – and the amount of share capital issued. Furthermore, in the case of companies required to prepare and disclose accounts under their parent law, the accounting period and period of disclosure must be provided.
The companies subject to these latest changes will include EEA companies who have already registered a branch of their overseas company in the UK, as well as all new overseas company registrations made after exit day – the principle being that the same requirements will apply to all non-UK registrations.
More information must also be included on client or public-facing material
In addition to the above, the Registrar has set out the further details that EEA companies will need to include on their materials for public or client consumption, such as their websites, letterheads and order forms.
Such information will encompass the location of the given company’s head office, the legal form of the company, and its limited liability status. The company’s share capital must also be stated on these materials, as well as – if applicable – notice that the company is being wound up or is subject to insolvency or any other analogous proceedings.
Companies House has told EEA firms that they will have three months from 31 December to supply this additional information, adding that from this date, an amended OSCH02 form to update company details will become available on its website.
The new requirements arise from the Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019.
We can advise and assist where needed
If there is any uncertainty for your organisation as to its corporate governance obligations as we look to the final few weeks of 2020 and into 2021, we would be pleased here at London Registrars to give you the benefit of tailored advice and support.
The risk, compliance and legal services that we offer include such aspects of company secretarial practice for PLCs as a Central London registered office address, directors’ service addresses, and maintenance of the register of directors and secretaries, among other areas of expertise.
To learn more about these and our other renowned services and solutions, you are welcome to enquire to our team via phone, fax or email today.
November 2020