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 …

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 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 …

New Changes to UK Limited Companies Procedures

The next phase of The Small Business, Enterprise and Employment Act comes into force on 10th October 2015. The act is intended to reduce the red tape around running a business in the UK while also increasing transparency. There are three main changes coming into force in October, none of them are hugely dramatic. Rather they …

Why Start-ups Need to Know About Encryption

It has been widely reported over the last couple of weeks that the American and British security services have spent huge amounts of time and money trying to break the encryption of popular internet services such as Google, Facebook and Amazon. As well as using their encryption breaking skills to spy on terror suspects and …

5 Proposed Changes to UK Limited Company Rules

At the G8 conference in June the UK government announced plans to change some of the rules around limited companies. Their aim is to make them more transparent so that it is clearer who owns companies. In part this move towards greater transparency is a more towards more efficient taxation of company owners. It will …