Charities making use of business consultancy services from an organisation like London Registrars may be interested to read of the encouragement that the Charity Commission has given them to provide their trustees with training and support to aid their development. Continue reading
New Auditor Regulatory Sanctions Procedure and Guidance published by FRC
Directors looking to ensure the highest standard of corporate governance are sure to take an interest in the recent publication of the Auditor Regulatory Sanctions Procedure and Guidance by the Financial Reporting Council (FRC). Continue reading
How a company may opt to issue a different class of shares
Among all of the matters that arise in company formations, directors may give little thought to the type of shares that their new company should issue and instead simply issue ordinary shares. Although this is a satisfactory initial situation for most companies, there are others, given appropriate advice, may wish to issue new shares that differ in class. Continue reading
Company websites to come under ICO scrutiny
Of all of the priorities that a director may have for corporate governance, ensuring that data protection laws are not breached by their company’s online privacy policy may not be the highest. However, that looks likely to change with the news that the Information Commissioners’ Office (ICO) is to begin examining company websites. Continue reading
Directors borrowing from their company subject to new rules
Companies wishing to ensure the highest standards of corporate governance are advised to pay close attention to new rules relating to company loans to directors. Previously, directors repaying such money within nine months of the end of their firm’s accounting period could avoid a tax charge. But in this year’s Budget came the announcement of new rules designed to combat what HMRC calls “bed and breakfasting” – the abuse of company loan rules. Continue reading
No change in HMRC owner-manager policy, despite win over dividends
Many a company secretary of an owner-manager taking their income mainly as dividends will have noticed the surprise outcome of a high profile case over whether tax and NI can be applied to dividends by HMRC in the same way as salary. The consultancy firm PA Holdings Ltd (PA) conceded defeat, leading to fears that directors/shareholders taking their income mainly by dividends could be subject to HMRC assault. Continue reading
Amended first aid regulations now in force
For many new business owners, company formations can feel sufficiently bound in red tape without overly burdensome health and safety regulations also proving a cause for concern. Such businesses are therefore likely to welcome the latest news that as of 1 October 2013, they can now enjoy greater flexibility with regard to the management of their provision of workforce first aid, thanks to altered health and safety regulations. Continue reading
Interim or final dividends – does it matter?
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