Changes to PSC Notification for Limited Companies

From today – 26th June 2017 – the way PSC notification works is changing. All limited companies will now have to update their PSC register, and Companies House, whenever there is a change rather than just doing it at the end of the year. When a change to PSC is made limited companies will have …

Post Brexit Director Population Report – London

We recently reported the unexpected rise in EU citizens being appointed directors of UK limited companies. We had expected to see a dramatic drop in the number of EU citizens forming UK companies post-Brexit, so were surprised to see them increasing. In order to better understand what is happening with EU citizens forming UK limited …

Unexpected Rise in EU Citizens starting businesses in the UK post Brexit

As a company formation agent we monitor trends in UK limited company formations. From our previous research we knew that around 11% of the directors of newly formed UK companies are EU citizens. We were therefore keen to discover what effect Brexit would have on UK company formations numbers. We were pretty sure that we …

New UK Company Formation Rules – SIC Codes

Among the changes being introduced to UK limited company formations on 30th June 2016 is the requirement for new companies to state their SIC code. Previously a limited company was not required to state what their SIC code is until they filed their annual return at the end of their first year (annual returns are …

New UK Company Rules – Confirmation Statements

From today (30th June 2016) limited company Annual Returns are being replaced by Confirmation Statements. Previously all limited companies were required to file an Annual Return each year. Annual Returns were a separate requirement from the financial accounts. The Annual Return was a statement to Companies House to outline the current structure of the business …

PSC Registers – What are the new company formation rules?

 What is PSC? There are a number of changes for UK limited companies being introduced today (30th June 2016). One of these is the introduction of person with significant influence or control (PSC) registers. A person with significant influence or control is an individual who: owns more than 25% of a company’s shares holds more …

Brexit impact on UK Company Formations

UK Company Formation procedures could be one of the first areas hit by the Brexit vote. As we reported last week there are already serious concerns about the weakness of the UK’s company formation procedures. These weaknesses could make them an easy target if the EU wants to play rough over the Brexit negotiations. Although …

BREXIT UNKNOWNS: Will EU downgrade the UK to “third country” status due to weak anti-money laundering regulation?

In the light of the recent Panama Papers leaks there has been a lot of concern about the use of limited companies for money laundering and tax avoidance. David Cameron has pledged to crack down on the abuse of limited companies but there are still serious weaknesses in the UK systems. The EU Commissions 4th …