Shareholders making use of London Registrars’ support for business who started a company with share capital that is no longer necessary may be interested to learn that they can take back some of their money without incurring a significant tax bill. Continue reading
UK Corporate Governance Code updated by Financial Reporting Council
It will interest many of those firms benefitting from London Registrars’ business consultancy in London to learn that an updated version of the UK Corporate Governance Code was been issued by the Financial Reporting Council (FRC). The aim is to ensure that investors are significantly better informed on listed companies’ long-term health and the bar for risk management is also being raised. Continue reading
Accounting rule changes reduce paperwork for medium-sized firms
Some 11,000 medium-sized UK businesses benefiting from the business support solutions of companies such as London Registrars will be pleased to hear of the reduction in their accounting paperwork that will result from a proposed change in changes in accounting rules. Continue reading
Bill introduces concept of ‘persons with significant control’
Business support agencies like London Registrars are currently updating their clients on the progress through Parliament of the Small Business, Enterprise and Employment Bill, which was introduced by the government in June 2014. The draft legislation proposes that all UK companies will be obligated to create and maintain a register of beneficial ownership, the intention being to make publicly available all of the information contained in these registers. Continue reading
New research shows vital role of the company secretary
Much insight into the significant contribution that a good company secretary makes to board performance has been given by new research from Henley Business School. The study, undertaken in conjunction with the Institute of Chartered Secretaries and Administrators (ICSA), scrutinised the unique role of company secretaries, finding that despite being sometimes undervalued and misunderstood, they were intrinsic to the success of their organisations. Continue reading
What the switch from the Annual Return to the Annual Confirmation Statement really means
Many clients of business support agencies like London Registrars may have noticed the recent introduction in Parliament of the Small Business, Enterprise and Employment Bill, which proposes the replacement of the familiar Annual Return with something called the ‘Annual Confirmation Statement’. It may sound like a drastic a change but it only really amounts to a rebranding of the Annual Return. Continue reading
What the rules say about VAT record keeping
Many of the businesses that haven’t taken advice from specialists such London Registrars (a firm of company secretaries and business consultants in London) may have been informed after a visit by HMRC that their VAT records were in need of improvement.
In the last few years HMRC have concentrated on publicising the importance of maintaining appropriate records. Since 2011, this publicity campaign has been supported by a special programme for checking corporate records. For those organisations with records that fail to pass muster, there is the threat of a fine of up to £3,000, levied under the rules for direct tax (income and corporation tax) self-assessment. However, in relation to VAT, a separate record-keeping penalty of up to £500 can be imposed. Continue reading
Important information about LLP incorporation
Where as a business may seek business formation services such as limited company incorporation and company limited by guarantee incorporation, many may be advised to use another legal business entity giving limited liability but with a partnership regime – namely a Limited Liability Partnership. Companies House now have over 52,000 registered LLPs (May 2014), and they differ somewhat from the original limited liability companies because of their lack of directors, shareholders or share capital and a different tax regime. Continue reading
Settlement agreements
What is a settlement agreement?
A settlement agreement (formerly known as a compromise agreement) is a formal and legally binding agreement made between an employer and an employee (or ex-employee as the case may be) under which an en employee agrees not to pursue any claims in relation to his or her employment or its termination in return for a financial settlement. Continue reading
The important information about directors and auto-enrolment pensions
Despite the widespread television advertisements urging awareness of pension auto-enrolment (AE), a year or two still remains until it becomes compulsory for small and medium-sized firms. Nonetheless, such ads have focused talk on the importance of companies providing their personnel with workplace pensions. The question for many of those using London Registrars’ business consultancy service will be whether directors will be affected in addition to regular employees. Continue reading