In the majority of cases dividends are the most tax efficient way to extract profit from a company. Following proper procedure is becoming increasingly important if you are to benefit from the tax advantages that dividends offer. Continue reading
Regulator investigates double defaulting charities
Of interest to many of those pursuing the highest standards of corporate governance will be the news of the launch of a class inquiry by the Charities Commission into charities seriously breaching reporting requirements. It was at the regulator’s Annual Public Meeting (APM) that its chief executive confirmed that charities failing to file annual reports, accounts and returns – ‘the annual documents’ – for at least two years would be subject to formal investigation. Continue reading
New competition body is formed
Those with an interest in corporate governance are also likely to be intrigued by the story that a new competition authority, the Competition and Markets Authority (CMA), has been formed. The government has said that the objective of the body, which brings together the Competition Commission and certain Office of Fair Trading (OFT) consumer functions, is to promote competition both within and outside the UK. Continue reading
Cut in number of restrictive company names
Company formations look set to become just slightly less stressful for many start-up businesses, with the Business Minister Jo Swinson’s announcement that the list of ‘sensitive’ company names is to be reduced.
The present system compels those undertaking company formations to seek prior approval for their company name from Companies House or a specified body, should their desired name include such words as ‘board’, ‘authority’, ‘group’, ‘European’, ‘national’ and/or ‘international’. Continue reading
Female representation on FTSE100 boards now 19 per cent
Women now account for 19 per cent of FTSE100 directors, according to Women on Boards, in news that will interest many of those looking to ensure the highest standards of corporate governance in their own firms.
The growth, which was welcomed by Business Secretary Vince Cable, suggests that good progress is continuing to be made in reaching the target of 25 per cent of board positions being held by women, as set by Lord Davies. Continue reading
Disincorporation Relief a low tax route to less regulation
A report by the Office of Tax Simplification found that ‘a small but significant number’Ā of limited companies would prefer to operate a sole trader or partnership model but were deterred from doing so by corporation tax that would be triggered by the transfer of certain company assets to shareholders who continue the business in an incorporated form. In response the government introduced a temporary tax relief for eligible businesses that disincorporate, called Disincorporation Relief. Continue reading
The merits of a company using London Registrars as its registered office address
It is a legal necessity that a UK company has an address where service can be made of official correspondence, like HM Revenue & Customs letters, court documents and correspondence that may arise from Companies House. What many UK companies may not be aware of, however, is that they may use London Registrars (https://www.london-registrars.co.uk) office as their registered office address. Continue reading
Could your company benefit from new articles of association?
A company’s articles of association are a vital constitutional document for that company, together with the memorandum of association – in cases where the memorandum. The articles define the director responsibilities, the kind of business that is to be undertaken and the means by which control is exerted over the board of directors by shareholders. However, clients of London Registrars’ (https://www.london-registrars.co.uk) company secretarial services may wish to take advantage of certain changes in company law in recent years. Continue reading
How could directors and managers benefit from a London Registrars company secretary?
Companies frequently make use of company secretaries for a wide range of duties relating to business administration, including compliance with statutory requirements. London Registrars (https://www.london-registrars.co.uk) has gained a reputation for the assistance and solutions that it provides to many different companies, catering to their specific requirements. Continue reading
London Registrars can take the stress out of a company secretarial audit
Companies often find a company secretarial audit is a useful way to review its governance and compliance obligations. It also greatly assists the directors reporting to the auditors. Typically, an audit provided by London RegistrarsĀ involves a review of for compliance with the Companies Act 2006, including the company’s memorandum and articles of association, statutory filing record and a reconciliation of the share registrar. Continue reading