How To Internationalise your Business
New compliance requirements for UK registered companies
UK registered Limited companies are legally required to keep and maintain a number of statutory records and registers, and it is the responsibility of the Director(s)/company secretary to ensure these records are accurate, up-to-date and made available for public inspection at the company’s registered office or SAIL address (Single Alternate Inspection Location). Unfortunately, the pressures of running a SME sometimes mean that these records are neglected, and only considered once a year when the Annual Return to Companies House is due to be filed.
When you seek investment, these records and registers (including minutes of Board meetings and records of all resolutions and decisions) will be scrutinised as part of the due-diligence, and correcting things retrospectively can be expensive and time consuming as well as reflecting poorly on the Company's professionalism. These issues can be prevented by spending a bit of time and effort in ensuring the records are kept up to date.
From 6th April 2016, there is a new additional record keeping requirement. As part of the Government's drive for greater transparency, all UK registered companies are required to keep a register of people with significant control (PSC). Further information can be found here.
SSC have a template for a compliant PSC register - please contact us for your free copy..