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 …

Clamp Down on Public Sector use of Personal Companies

George Osborne announced a new clamp down on the use of “personal service” limited companies in today’s budget. “Personal service” companies are where a person who is working as a freelancer, consultant or agency employee forms their own limited company and uses it to bill their employer. The employees can work the funds coming through …

Running a Buy to Let Company

Recently, The Company Warehouse reported a steep rise in the formation of property companies. Analysis of data from Companies House has found that there has been a 75% increase in property company formations compared to the same period in 2015. This rise can be attributed to the impending changes in stamp duty and tax relief …

Company Formation Trend Predictions 2016

The number of new companies being formed in the UK has been steadily rising for the last few years. This is often seen as an indicator of entrepreneurial spirit (which it is) but it is also a result of more complex factors to do with tax, investments and employments rights. The government have announced a …

What is really driving the growth in new UK companies?

We recently blogged about the reports that appear on an almost weekly basis about the number of new companies being formed in the UK. Most of these reports use the same dodgy stats to announce that there are a record breaking number of new businesses starting in the UK. This is normally trumpeted as a …

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 …