Many business owners will have heard about the Small Business, Enterprise and Employment Act and will be aware that a number of changes are to be introduced over the coming months.
The first big round of changes come into effect on 1 October 2015 and include an accelerated strike off process for companies that are being wound up and a revised “consent to act” procedure when new directors are appointed.
More changes are to follow in December.
Further details can be found on the Companies House website or speak to your usual contact at Hedges who will be pleased to assist with any queries you may have.
The Small Business, Enterprise and Employment Act has now received Royal Assent and is expected to be implemented to the timescales set out below.
The measures that affect companies aim to:
reduce red tape whilst increasing the quality of information on the public register
enhance transparency and ensure the UK is seen as a trusted and fair place to do business
All companies will be affected by at least some changes, as the measures will change legal requirements on companies, including what they file with Companies House - which will impact companies systems and processes.