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Friday
Oct022009

Keeping The Right Company As Law Changes

Managing a company is more streamlined from now as the Companies Act 2006 has come in to force and directors should be aware of the changes so they do not unwittingly commit an offence.    1. Protect your home address

Every director will have a service address and a home address. The service address is publicly available. The director’s home address is only available to public authorities and credit reference agencies. From October 01, 2009, a director’s home address will automatically become service address. 

   2. Sailing into calm waters

There will be changes to the arrangements for inspecting company registers. They may be held at the registered office or at a single alternative inspection location (SAIL). You must notify Companies House if you set up a SAIL address or if the SAIL address is moved, and you may only have one SAIL address for a company at a time. 

   3. Companies easier to set up

Incorporating a company is simpler and new incorporations need new company articles that include the company’s objects, liabilities and assets –which were previously in the memorandum. 

   4. New fines for failing to keep up to date

Amendments to the company’s articles must be notified to Companies House within 15 days. Failure to do so could lead to a criminal offence and a penalty of £200.

   5. UK wide company registry

The Northern Ireland company registry is integrating with Companies House. 

   6. Finding information about the changes

Companies House has produced new guidance notes that explain the changes and give step-by-step instructions on forming, administrating and dissolving companies

   7. Scrap old forms

All Companies House forms changed from 1st October 2009. Electronic copies can be downloaded from the Companies House web site.

   8. Check out the new prices

Some fees for filing services have changed. Make sure the correct fee is sent with any form to make sure it is not rejected.

   9. Join up for online filing

Most corporate information can be filed online via the Companies House web site or authorised software packages.

  10. Protect your company from hijack

From 1st October, the Registrar’s Protected Online Filing (PROOF) scheme protects unauthorised changes to company details. 

If a fraudster tries to ‘hijack’ their company by filing a piece of paper, this will be rejected. The Registrar urges all companies to sign up to PROOF. 

 

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