Changes in Company Law for Small Businesses
This morning I had to make an Annual Return on the Companies House Website. I’ve always thought it an pedantic process, as all you do is confirm the records Companies House already has for for you - at least filing on-line costs £15 less.
Whilst I was doing the filing I noticed there are some changes coming down the line in Company Law.
Companies House is improving its website by including a small company checklist and implementing ‘clearer English when it explains the law and is also making it possible to do an on-line incorporation.
The law is changing to make it no longer a necessity to have a Company Secretary and is removing the requirement for a Company to always hold an Annual General Meeting. Other changes reduce the time allowed to file company accounts from 10 to 9 months and make it easier for private companies to make capital reductions.
I’m quite glad they’re making these changes as trying to keep track of changes in regulation and the requirements of all the different bodies is a pain in the proverbial.
