Simplification of filing requirements
In our last newsletter we reported that the government was consulting on proposals to relax the administrative burden for companies, in particular in respect of corporate filing. The government has now published its responses to the consultation. The key points to note are:
- instead of the requirement to complete an annual return at a set point each year, companies will be required to ‘check, notify changes if necessary and confirm’ the statutory information at least once in every 12-month period. This could be, for example, on the appointment of a new director.
- private (but not public) companies will have the option of not maintaining some or all of the following registers: the register of directors, the register of directors’ residential addresses, the register of secretaries, the register of members and the proposed new register of beneficial ownership. If the company exercises this option it will need to ensure that the information on the public record is up to date and includes the addresses of members and the full date of birth of directors…
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