Companies Act is the catch-all title for legislation applying to company law with which every UK company (large, small, private or public) must comply. Company compliance with Companies Act may be a necessary evil (and compliance can feel like the work of the devil to a company which is concentrating on the smooth-running of the day-to-day business!) but using a corporate and legal support firm such as London Registrars (http://www.london-registrars.co.uk/) can vastly simplify the process.
Company compliance with Companies Act is seen by most businesses as time-consuming, costly and stressful. Regardless, it is essential and its importance should not be underestimated. By law, every public or private company in the UK has to file certain documentation with Companies House in accordance with stringent deadlines. This goes for small start-ups just as it does for established ‘behemoth’ organisations. Failure to comply is likely to incur financial penalties but it could also have more far-reaching legal ramifications.
The importance of Companies Act compliance is the very reason more and more companies are looking to call in the professionals: outsourcing to an experienced company secretary which will project manage every facet of the compliance. Not only are company secretarial services more affordable than one may initially think, but outsourcing the compliance can in fact save a company money in potential fines, not to mention the extensive in-house time and resources which are spared.
The services of a company secretary will be tailored to the size and operations of each organisation, however they include such duties as guiding board members in matters of UK company law (where applicable); ensuring compliance with all facets of that law, from health and safety to employment and commercial law; as well as the prompt filing of all relevant paperwork with Companies House.
In challenging economic times, it’s even more important that a company concentrates on its core strategic goals and continues to build on the business. Company compliance with Companies Act cannot be put on hold while this happens, however, and fines incurred from failure to comply may be even more difficult to swallow. That’s why there’s never been a better time to hand this vital role to the experienced professionals at London Registrars. Find out more details about this and all of their services at http://www.london-registrars.co.uk/.