By to: 22 November 2013
|
|
- Buck Darcy Ball
- 8 years ago
- Views:
Transcription
1 By to: 22 November 2013 To: Company Law Simplifications Team The Department for Business, Innovation and Skills Spur 2, Level 3 1, Victoria Street London SW1H 0ET Dear Sirs Re: COMPANY FILING REQUIREMENTS The Society of Professional Accountants welcomes the opportunity of commenting on this consultation and herewith is our response for your consideration. Please let us know if you would like to discuss with us any aspect of our reply. Yours sincerely Peter J D Mitchell Chairman
2 THE DEPARTMENT FOR BUSINESS, INNOVATION AND SKILLS COMPANY FILING REQUIREMENTS Response by THE SOCIETY OF PROFESSIONAL ACCOUNTANTS 22 NOVEMBER 2013 PETER J D MITCHELL, FCA, FCCA, CHAIRMAN 2
3 COMPANY FILING REQUIREMENTS INDEX Section Page 1. Executive Summary 4 2. Background to The Society of Professional Accountants 6 3. Detailed Responses to Questions Posed 7 3
4 COMPANY FILING REQUIREMENTS 1. EXECUTIVE SUMMARY 1.1 The Society of Professional Accountants (SPA) is wholly supportive of initiatives that reduce time and money spent on regulation, whether through computerisation of continuing procedures, or elimination or simplification of current regulations. 1.2 Our members regard the information recorded at Companies House to be of significant importance and usefulness for those dealing with companies having public interest attributes. Where such a necessary interface does not exist, as in the case of the very large numbers of small owner managed companies, we endorse the plan to keep published information to a minimum in order to protect their privacy and minimise opportunities for identity theft. 1.3 The proposals in your consultation paper address areas affecting all our limited company clients and who are predominantly owner managed, and many of whom have already embraced online filing at Companies House. 1.4 Many of our limited company clients view their Companies House records as the formal statement to the public of their corporate fabric, and the opportunity of eliminating a parallel record at the Company s registered office would avoid duplicated effort and provide some small costs savings. 1.5 We remain concerned with the quality of some accounts accepted by and filed at Companies House, and recommend that quality checks be stepped up to ensure that basic information is present in an approved format, for example that share capital is present. It would be worth paying 5 more than the current Annual Return fee if this enabled Companies House to police the quality of filed accounts effectively, as this would improve their reliability in the eyes of the public. 4
5 (The Companies House fee may be compared with the annual fee payable to the Information Commissioner s office for Data Protection, currently 35, but where the benefits to members or users are far less obvious). 1.6 In practice the majority of our members use software from reputable suppliers to produce accounts in statutory format, and where the incidence of format or content error is believed to be very low. 1.7 The opportunity to synchronise filing dates for the Annual Return with the annual accounts can be achieved already by early filing of the former, but this facility may not be widely known and should be communicated more widely by you. 1.8 Similarly, the opportunity to file annual accounts with HMRC three months after the Corporation Tax Return is filed is frequently avoided by filing both documents at the same time; the available simplification - requiring that both be filed within 9 months of the year end - is for HMRC to determine. 1.9 We maintain that Companies House filing requirement for small company accounts, which we understand to be the vast majority of all companies trading, and which permit just an abbreviated Balance Sheet to be filed, continue to be sufficient for owner managed companies and should be maintained in order to protect their privacy; if suppliers or banks require more detail then this can be requested direct from the company concerned Providing an Abbreviated statement of the annual accounts is a relatively simple and cost free task given that reputable accounts production software is used. SPA will be pleased to expand on any of the topics summarised above or on the responses to the specific questions posed. 5
6 COMPANY FILING REQUIREMENTS 2. BACKGROUND TO THE SOCIETY OF PROFESSIONAL ACCOUNTANTS 2.1 SPA is a wholly independent society of small practitioners holding a qualification issued by a recognised professional accountancy Institute. It was formed in early 1996 and currently there are some 1400 principals in 1000 member practices. Our members provide accountancy and taxation services to an estimated 150,000 private businesses and around 450,000 individuals. Of the private businesses served by our members around 50% are incorporated, representing around 2% of the UK Company Register, and where most do not have employees other than the directors. 2.2 The Society s stated policy is to promote and improve the relationship between members and their Institutes by providing constructive criticism together with practical proposals for improvements. Further to provide commentary and proposals to other authorities influencing members practising environment. 2.3 SPA has previously made submissions on small businesses limited company activities to the DTI on Audit Exemption levels, to the Accountancy Standards Board on Financial Reporting Standards for Small Entities (FRSSE), to the DTI on Modern Company Law Developing the Framework, to the Chancellor of the Exchequer concerning individual tax payers on Advancing Self Assessment Tax Return Filing Dates, and to HM Revenue and Customs on various tax and NI consultations impacting on small practices and their clients including Simpler Income Tax for the Simplest Small Businesses, Securing Compliance with Real Time Information Late Filing and Late Payment Penalties and Simplifying the National Insurance Processes for the Self Employed. 6
7 COMPANY FILING REQUIREMENTS 3. DETAILED RESPONSES TO QUESTIONS POSED Question 1 (paragraph 45) Do you agree that the requirement to file an annual return is removed and that the system relies on event driven filing? For many small owner managed companies the information within an Annual Return may not change throughout that company s life. However, we maintain that annual confirmation that CH information remains current is a reasonable regulatory burden, ensuring that public records remain complete and reliable. Question 2 (paragraph 45) Do you agree that companies should be allowed to simply check and confirm that their information is up to date once a year? See response to Question 1. We maintain that companies should file any changes in Annual Return information within four weeks of the event taking place. Question 3 (paragraph 45) Do you wish to retain the annual return? See responses to Questions 1 & 2. Question 4 (paragraph 45) Do you agree that the SIC code should be required at incorporation and maintained as part of an annual check? As the nature of a company s activities, and the matching with a SIC code, is not essential preliminary data we suggest this be filed within four weeks of the Company commencing to trade. It would then form part of the annual confirmation. (See response to Question (1) above). Question 5 (paragraph 51) We would welcome views on the impact on companies and on the transparency of the register of aligning filing dates for accounts at both HMRC and CH. 7
8 In practice many company accounts are filed at the same time with both HMRC and CH, i.e. within 9 months of the Accounting Period and hence there would be little impact if HMRC chose to reduce their filing date for the Corporation Tax Return, for which 12 months is provided to the CH filing date. Question 6 (paragraph 60) Do you agree that for those companies whose directors and shareholders are the same people, the requirement to make their registers available at their Registered Office or SAIL should be removed? We agree with this suggestion which would eliminate a duplicate record for private owner managed companies. Our experience is that almost no requests to inspect such records have ever been made. In practice the CH records are regarded as the finite record of such companies. Question 7 (paragraph 68) Should private companies have the option of holding their registers at CH, in the same way that they are able to nominate a SAIL? We agree with this suggestion. Question 8 (paragraph 74) Should dates of birth be suppressed in part, or in full? We agree that date of birth should be suppressed in full as this appears to be unnecessary information and has assisted identity theft. Question 9 (paragraph 79) Should the Statement of Capital requirements be changed, as set out above? We agree with the suggested statement of Capital requirements as outlined in your consultation document. Question 10 (paragraph 82) Should the statement of capital on formation requirements be the same as the other statement of capital requirements throughout the Act? 8
9 We agree with this statement. Question 11 (paragraph 87) Do you think companies should only have to supply a statement of capital on a specified date if they have not updated their information within the year? We agree that annual confirmation of all information incorporated within an Annual Return should include a statement of issued capital. Question 12 (paragraph 89) Should we amend S. 555 to rely on Articles of Association to provide information on allotment of shares? We maintain that information on allotment of shares is significant when determining the ownership of a company and, as such, filing the prescribed form should continue. Question 13 (paragraph 101) Do you agree that companies with subsidiaries must include a total number of subsidiaries? If not, why? We agree with this statement. Question 14 (paragraph 101) Do you agree that the information must always be included in the accounts? We agree with this statement. Question 15 (paragraph 108) Are there any notices that should not be sent electronically? We do not consider there are any notices that should not be sent electronically. This method of communication is increasingly accepted as efficient and reliable. Question 16 (paragraph 108) 9
10 Do you agree that the address should be made available to other public authorities, specified in law? We agree with this statement. Question 17(paragraph 108) Are there any other means of electronic communication that CH should explore? None that we can suggest. Question 18 (paragraph 111) Do you think companies should be able to supply the Registrar with additional information, such as a website, to display on the public record? We consider that such a facility, which may suit certain companies, should be an optional additional service for which it is anticipated a further small fee may be charged. Question 19 (paragraph 114) Do you think that CH has the balance between upfront validation and verification and quick and effective remedy right? We agree with this statement in view of the relatively low number of issues raised post incorporation. Question 20 (paragraph 127) Do you agree that there should be a requirement for the Registered Office to have a link to the company? We agree with this statement. Question 21 (paragraph 127) What criteria do you think should be specified to evidence an effective Registered Office? We agree with the following criteria listed in your consultation: a) The company must be owner/leaseholder/occupant of the building b) The company has the permission of the occupant 10
11 c) Correspondence will, or is likely to, reach the company officials; and We maintain (d) is not required. Question 22 (paragraph 127) Do you think replacing an ineffective Registered Office address with a Director s address is a viable approach? We agree with this statement which would assist our members in a few instances where a company client, whose registered office is that of the appointed accountants, moves away to another accountant, or will not communicate to its appointed accountant its current status. Question 23 (paragraph 138) Do you agree that the consent to act should be replaced with a simple confirmation that the company holds the consent? We agree with this statement. It would ordinarily be represented by a Board Minutes plus a Contract of Employment where appropriate. Question 24 (paragraph 138) Should companies be required to provide evidence of a Director s appointment, in the event of a dispute? We agree with this statement see response to Question 23. This would also apply to a disputed resignation of a director. Question 25 (paragraph 146) Do you agree that there should be an accelerated strike off process particularly in the event of a company hi-jacking an address? We agree with this statement. Question 26 (paragraph 146) Are there any potential consequences of an accelerated strike off process that we should bear in mind? 11
12 Given the simplicity of incorporating a new company we are concerned that the suggested accelerated strike off process may not prevent further phoenix companies being set up, and suggest quality checks in this area may prove beneficial. The suitability of directors, associated with an accelerated strike off, being appointed to newly established companies should be considered. Question 27 (paragraph 146) Are there any other circumstances in which an accelerated strike off process would be appropriate? representing around 7% of the UK Company Register None that we can suggest. Question 28 (paragraph 149) We would welcome views on the assumptions and estimates used in the costs benefits analyses, particularly where we have not been able to quantify some of the costs and benefits. We accept that the updating and modernisation of the CH Annual Return will provide small savings to companies concerned, and are pleased to note you identify the front end investment by directors to become familiar with the new arrangements. It is more important that the integrity and reliability of CH records be maintained and enhanced. Question 29 (paragraph 149) Are there any other costs or benefits that should be included in the analyses? None that we can suggest. Question 30 (paragraph 149) We would welcome views on likely take-up of proposals, particularly in relation to company registers and electronic communications. We would anticipate that the take-up of your proposals amongst our members would be high at least 85%. Do you have any other comments that might aid the consultation process as a whole? 12
13 Please use this space for any general comments that you may have, comments on the layout of this consultation would also be welcomed. None that we can suggest. PLEASE ACKNOWLEDGE THIS REPLY The Society of Professional Accountants 95 High Street Great Missenden Buckinghamshire HP16 OAL
Payment Systems Regulation Call for Inputs. 5 March 2014
Payment Systems Regulation Call for Inputs 5 March 2014 Contents 1 OVERVIEW... 3 Introduction... 3 2 BACKGROUND... 4 What is a payment system?... 4 The Payment Systems Regulator... 5 Who will the PSR affect?...
More informationHMRC Digital Strategy legislative changes to enable Paperless Self Assessment
HMRC Digital Strategy legislative changes to enable Paperless Self Assessment Consultation document Publication date: 27 November 2013 Closing date for comments: 27 December 2013 Subject of this consultation:
More informationNOTE FROM THE EDITOR Nick Fothergill Partner, London Corporate Group
BRIEFING UK: CORPORATE OCTOBER 2015 THE SMALL BUSINESS, ENTERPRISE AND EMPLOYMENT ACT 2015 NEW ANNUAL SLAVERY STATEMENT FOR LARGE COMMERCIAL ORGANISATIONS NEW REPORTING REQUIREMENTS FOR MINING AND OIL
More informationIntegrating the operation of income tax and National Insurance contributions. A call for evidence
Integrating the operation of income tax and National Insurance contributions A call for evidence July 2011 Integrating the operation of income tax and National Insurance contributions A call for evidence
More informationLONDON STOCK EXCHANGE HIGH GROWTH SEGMENT RULEBOOK 27 March 2013
LONDON STOCK EXCHANGE HIGH GROWTH SEGMENT RULEBOOK 27 March 2013 Contents INTRODUCTION... 2 SECTION A ADMISSION... 3 A1: Eligibility for admission... 3 A2: Procedure for admission... 4 SECTION B CONTINUING
More informationSTATEMENT 3.340 AUDITING GUIDELINE PROSPECTUSES AND THE REPORTING ACCOUNTANT
The guidance on reports on working capital requirements (paragraphs 67 to 71) and reports on borrowings (paragraphs 72 to 75) in this AG 3.340 is applicable for engagements where the investment circular
More informationNew Bermuda Company Formation Documents
NEW CLIENT DOCUMENTATION PACKAGE Find enclosed herewith our company formation questionnaire and related documentation required to commence a business relationship with St. George s Services Limited. This
More informationElectricity Settlements Company Ltd Framework Document
Electricity Settlements Company Ltd Framework Document This framework document has been drawn up by the Department of Energy and Climate Change in consultation with the Electricity Settlements Company.
More informationConsultation Paper. Proposed rules for recognised clearing houses and approved operators
Consultation Paper Proposed rules for recognised clearing houses and approved operators February 2013 Consultation Paper Proposed rules for recognised clearing houses and approved operators February 2013
More informationDeduction of income tax from interest: peer-topeer
Deduction of income tax from interest: peer-topeer lending Consultation document Publication date: 15 July 2015 Closing date for comments: 18 September 2015 Subject of this consultation: Scope of this
More informationEMPLOYEE BENEFITS AND EXPENSES REAL TIME COLLECTION OF TAX ON BENEFITS IN KIND AND EXPENSES THROUGH VOLUNTARY PAYROLLING
EMPLOYEE BENEFITS AND EXPENSES REAL TIME COLLECTION OF TAX ON BENEFITS IN KIND AND EXPENSES THROUGH VOLUNTARY PAYROLLING Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association
More informationRe: BVCA response to the discussion paper on the register of people with significant control
Transparency and Trust Team Department for Business, Innovation and Skills 1 Victoria Street London SW1H 0ET By email: transparencyandtrust@bis.gsi.gov.uk 17 July 2015 Dear Sirs, Re: BVCA response to the
More informationPFIZER INC. CORPORATE GOVERNANCE PRINCIPLES
PFIZER INC. CORPORATE GOVERNANCE PRINCIPLES Role and Composition of the Board of Directors 1. General. The Board of Directors, which is elected by the shareholders, is the ultimate decision-making body
More informationtechnical factsheet 177 Company purchase of own shares
technical factsheet 177 Company purchase of own shares CONTENTS 1. Introduction 2. Legal aspects 3. Taxation 4. Accounting 5. Reporting 6. General business planning issues 7. Ethical considerations for
More information3. Structuring your company in the UK
3. Structuring your company in the UK 3.1 Making sure the law is on your side The legal framework governing company registration in the UK The primary legislation governing the incorporation and registration
More informationRegis House, First Floor, 45 King William Street, London EC4R 9AN Tel: +44(0)20 3102 6761 E-mail: acahelp@aca.org.uk Web: www.aca.org.
Regis House, First Floor, 45 King William Street, London EC4R 9AN Tel: +44(0)20 3102 6761 E-mail: acahelp@aca.org.uk Web: www.aca.org.uk 22 May 2015 Employer Debt Team Department for Work and Pensions
More informationIMPLEMENTING THE RESTRICTION OF PENSIONS TAX RELIEF: NAPF SUBMISSION TO THE HMT/HMRC CONSULTATION
IMPLEMENTING THE RESTRICTION OF PENSIONS TAX RELIEF: NAPF SUBMISSION TO THE HMT/HMRC CONSULTATION Executive Summary The NAPF welcomes the Coalition Government s decision to adopt a tax regime based principally
More informationAugust 28, 2014. To: Department for Business, Innovation and Skills (transparencyandtrust@bis.gsi.gov.uk)
August 28, 2014 To: Department for Business, Innovation and Skills (transparencyandtrust@bis.gsi.gov.uk) Re: Transparency & Trust: Enhancing the Transparency of UK Company Ownership and Increasing Trust
More informationSolvency II and the Taxation of Life Insurance Companies
Solvency II and the Taxation of Life Insurance Companies Who is likely to be affected? This measure is relevant to UK life insurance companies and Friendly Societies. It will also affect overseas life
More informationPart surrenders and part assignments of life insurance policies
Part surrenders and part assignments of life insurance policies Consultation document Publication date: 20 April 2016 Closing date for comments: 13 July 2016 Subject of this consultation: Scope of this
More informationDiverted Profits Tax: Guidance
Diverted Profits Tax: Guidance This document updates the interim guidance (published in March 2015) on the Diverted Profits Tax that was introduced in the Finance Act 2015. It replaces all previously published
More informationImpact Assessment (IA)
Title: UK implementation of the EU Accounting Directive: Chapters 1-9: Annual financial statements, consolidated financial statements, relatied reports of certain types of undertakings and general requirements
More informationBELIZE LIMITED LIABILITY PARTNERSHIPS ACT CHAPTER 258 REVISED EDITION 2003 SHOWING THE SUBSIDIARY LAWS AS AT 31ST OCTOBER, 2003
BELIZE LIMITED LIABILITY PARTNERSHIPS ACT CHAPTER 258 REVISED EDITION 2003 SHOWING THE SUBSIDIARY LAWS AS AT 31ST OCTOBER, 2003 This is a revised edition of the Subsidiary Laws, prepared by the Law Revision
More information1.2 The CIOT s Environmental Taxes Working Group has previously commented on the principles of environmental taxes.
Reforming the business energy efficiency tax landscape HM Treasury consultation document September 2015 Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation
More informationAppendix 14 CORPORATE GOVERNANCE CODE AND CORPORATE GOVERNANCE REPORT
Appendix 14 CORPORATE GOVERNANCE CODE AND CORPORATE GOVERNANCE REPORT The Code This Code sets out the principles of good corporate governance, and two levels of recommendations: code provisions; and recommended
More informationCORPORATE MEMBERS OF LIMITED LIABILITY PARTNERSHIPS
1. INTRODUCTION CORPORATE MEMBERS OF LIMITED LIABILITY PARTNERSHIPS 1.1 This note, prepared on behalf of the Company Law Committee of the City of London Law Society ( CLLS ), relates to BIS request for
More informationFRAMEWORK FOR THE PREPARATION OF ACCOUNTS. Best Practice Guidance
FRAMEWORK FOR THE PREPARATION OF ACCOUNTS Best Practice Guidance Revised Edition April 2010 PUBLISHED IN APRIL 2010 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SCOTLAND This document is published by the
More informationSimplifying the National Insurance Processes for the Self-Employed Response by the Chartered Institute of Taxation
Simplifying the National Insurance Processes for the Self-Employed Response by the Chartered Institute of Taxation 1. Introduction and Executive Summary 1.1 The Chartered Institute of Taxation (CIOT) is
More informationThe Income Tax (Recommended Medical Treatment) Regulations 2014 Consultation document on the draft legislation published on 17 September 2014
15 October 2014 Ms L Meikle Employment Income Policy Team Her Majesty's Revenue and Customs Room 1E/08 100 Parliament Street London SW1A 2BQ Dear Ms. Meikle, The Income Tax (Recommended Medical Treatment)
More informationDe-regulatory changes for Limited Liability Partnerships (LLPs) and Qualifying Partnerships
De-regulatory changes for Limited Liability Partnerships (LLPs) and Qualifying Partnerships Simplification of the financial reporting requirements for LLPs Introduction of a new micro-entity accounting
More informationprofessional engineers board singapore
GUIDELINES ON THE APPLICATION FOR A LICENCE TO SUPPLY PROFESSIONAL ENGINEERING SERVICES 1. The Professional Engineers Act provides for professional engineers to team up with allied professionals to form
More informationHow to set up a company in South Africa
How to set up a company in South Africa Business entities and registration procedures The most common business entities in South Africa are: 1. Companies 2. Close corporations 3. Partnerships and sole
More informationDeduction of income tax from savings income: implementation of the Personal Savings Allowance
Deduction of income tax from savings income: implementation of the Personal Savings Allowance Consultation document Publication date: 15 July 2015 Closing date for comments: 18 September 2015 Subject of
More informationINTRODUCTION... 3 OVERSEA COMPANIES... 9
Mdina Malta INTRODUCTION... 3 FORMATION AND REGISTRATION OF COMPANIES... 4 PRIVATE OR PUBLIC COMPANY... 4 MEMORANDUM AND ARTICLES OF ASSOCIATION... 4 WHO MAY INCORPORATE... 5 TIME REQUIRED FOR INCORPORATION...
More informationTERMS AND CONDITIONS PENSION ANNUITY.
TERMS AND CONDITIONS PENSION ANNUITY. This document is intended for reference both before and after the annuity has been bought. If you are looking at it before buying, we recommend that you also read
More informationFRED 50 Draft FRC Abstract 1
Exposure Draft Audit and Assurance Financial Reporting Council August 2013 FRED 50 Draft FRC Abstract 1 Residential Management Companies' Financial Statements and Consequential Amendments to the FRSSE
More informationThe Scottish Government Draft Consult Paper on Identity Management and Privacy Issues
Scottish Government Draft Consultation Paper on Identity Management and Privacy dns ref: SCX028 date: 23 November 2009 version: 1.0 classification: unclassified dns contact: Mike Wawro, mike.wawro@dns.co.uk
More informationCHINA PIONEER PHARMA HOLDINGS LIMITED
Purpose CHINA PIONEER PHARMA HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) (Stock Code: 01345) Terms of Reference for Audit Committee of the board of directors of the Company
More informationFinal Draft Guidance on Audit Committees
Guidance Corporate Governance April 2016 Final Draft Guidance on Audit Committees The FRC is responsible for promoting high quality corporate governance and reporting to foster investment. We set the UK
More informationNon UK Residents UK Limited Liability Partnership
Non UK Residents UK Limited Liability Partnership The international package includes: Company set-up UK Registered Office Address (which includes mail forwarding) UK company bank account with debit and/or
More informationThe NSW Business Chamber (the Chamber) welcomes the opportunity to comment on IPART s Pricing VET under Smart and Skilled draft report.
23 August 2013 Dr Peter J Boxall AO, Chairman Independent Pricing and Regulatory Tribunal PO Box Q290 QVB Post Office NSW 1230 By email Dear Dr Boxall, Pricing VET under Smart and Skilled The NSW Business
More informationGUIDE TO INCORPORATING COMPANIES
GUIDE TO INCORPORATING COMPANIES IRELAND CURRENCY Euro ( ). EXCHANGE CONTROL There is no exchange control in Ireland. There are, however, certain other restrictions which should be noted. Pursuant to the
More informationReal time collection of tax on benefits in kind and expenses through voluntary payrolling
Real time collection of tax on benefits in kind and expenses through voluntary payrolling Who is likely to be affected? Employers, employees, payroll providers and payroll software providers. General description
More informationComments regarding Consultation Paper 209: Resignation, removal and replacement of auditors: Update to RG 26
Ernst & Young 8 Exhibition Street Melbourne VIC 3000 Australia GPO Box 67 Melbourne VIC 3001 Tel: +61 3 9288 8000 Fax: +61 3 8650 7777 ey.com/au Mr Doug Niven Senior Executive Leader Financial Reporting
More informationRequest for feedback and comments scoping study for a national not-for-profit regulator
25 February 2011 Manager Philanthropy and Exemptions Unit Personal and Retirement Income Division The Treasury Langton Crescent PARKES ACT 2600 By email: NFPReform@treasury.gov.au Dear Sir/Madam Request
More informationCyber Security Organisational Standards. Guidance
Cyber Security Organisational Standards Guidance April 2013 Contents Contents...2 Overview...3 Background...4 Definitions...5 Presentation and Layout...6 Submissions Guidance...7 Acceptance Criteria...8
More informationIncome tax: simplifying the administration of employee expenses, including preventing salary sacrifice
Income tax: simplifying the administration of employee expenses, including preventing salary sacrifice Who is likely to be affected? Employers who pay, reimburse, or provide benefits in kind (BiKs) in
More informationNexteer Automotive Group Limited
Nexteer Automotive Group Limited (Incorporated under the laws of the Cayman Islands with limited liability) (Stock Code: 1316) Terms of Reference for the Audit and Compliance Committee of Nexteer Automotive
More informationFramework Agreement between the Department of Health and the NHS Trust Development Authority. Annex C: Finance and Accounting
Framework Agreement between the Department of Health and the NHS Trust Development Authority Annex C: Finance and Accounting 2014 1. The Framework Agreement sets out the governance and accountability arrangements
More informationRolls-Royce Holdings plc. Shareholder guide June 2014
Rolls-Royce Holdings plc Shareholder guide June 2014 Contents Payments to Shareholders Payments to shareholders............................................3 Receive cash.....................................................4
More informationMexan Limited Terms of Reference for Audit Committee
Mexan Limited Terms of Reference for Audit Committee Purpose 1. The purpose of the Audit Committee is to assist the board of directors (the Board ) of Mexan Limited (the Company ) in considering how the
More informationKesa Risk Universe Compliance Risks
Page 1 POLICY CHANGE MANAGEMENT Amendments made Edition Date Original version 00 09/2003 New original version all pages amended 01 06/2009 Pages 5, 7, 8, 9 amended 02 12/2010 Page 2 KESA AUDIT COMMITTEE
More informationItem: 16 Page: 5. 1. Purpose
Item: 16 Page: 5 1. Purpose 1.1 Improving Choice in Verification of Building Standards. A Scottish Government consultation on the introduction of the National House Building Council (NHBC) for the verification
More informationCONSULTATION PAPER NO 2. 2004
CONSULTATION PAPER NO 2. 2004 REGULATION OF GENERAL INSURANCE MEDIATION BUSINESS This consultation paper explains the need for the Island to regulate general insurance mediation business and examines the
More informationOM ASSET MANAGEMENT PLC
OM ASSET MANAGEMENT PLC FORM S-1MEF (Registration of Additional Securities (up to 20%)) Filed 06/16/15 Telephone 617-369-7321 CIK 0001611702 Symbol OMAM SIC Code 6282 - Investment Advice Fiscal Year 12/31
More information15 April 2014. Mr Ian Taylor Chair Tax Practitioners Board PO Box 126 Hurstville BC NSW 1481. Email: tpbsubmissions@tpb.gov.au.
15 April 2014 Mr Ian Taylor Chair Tax Practitioners Board PO Box 126 Hurstville BC NSW 1481 Email: tpbsubmissions@tpb.gov.au Dear Mr Taylor Re. Exposure Draft tax (financial) adviser policy documents The
More informationAssociation of Accounting Technicians response to Department for Business Innovation and Skills (BIS) consultation paper on De-regulatory changes for
Association of Accounting Technicians response to Department for Business Innovation and Skills (BIS) consultation paper on De-regulatory changes for Limited Liability Partnerships (LLPs) and Qualifying
More informationAPFA RESPONSE DEPARTMENT FOR BUSINESS, INNOVATION & SKILLS CONSULTATION IMPLEMENTING THE ALTERNATIVE DISPUTE RESOLUTION DIRECTIVE
APFA RESPONSE DEPARTMENT FOR BUSINESS, INNOVATION & SKILLS CONSULTATION IMPLEMENTING THE ALTERNATIVE DISPUTE RESOLUTION DIRECTIVE ABOUT APFA The Association of Professional Financial Advisers (APFA) is
More informationRegulatory Impact Statement
Regulatory Impact Statement Requiring non-resident IRD number applicant to have a New Zealand bank account Agency Disclosure Statement This Regulatory Impact Statement has been prepared by Inland Revenue.
More informationCivil Law (Wrongs) (Proportionate Liability and Professional Standards) Amendment Act 2004
Australian Capital Territory Civil Law (Wrongs) (Proportionate Liability and Professional Standards) Amendment Act 2004 Contents Page 1 Name of Act 2 2 Commencement 2 3 Legislation amended 2 4 New chapter
More informationSTAMP DUTY LAND TAX BILL
STAMP DUTY LAND TAX BILL DRAFT EXPLANATORY NOTES INTRODUCTION 1. These explanatory notes relate to the Stamp Duty Land Tax Bill as introduced into the House of Commons on 4 December 2014. They have been
More informationUS Private Placements for European Issuers
financing BRIEFING april 2013 Recent turmoil in European debt markets has prompted many European companies to consider alternative sources of debt financing. One source of funding which is proving increasingly
More informationLife Assurance Premium Relief (LAPR): Repeal
Life Assurance Premium Relief (LAPR): Repeal Who is likely to be affected? Individuals who continue to pay regular premiums under qualifying life insurance policies issued on or before 13 March 1984. Insurers
More informationMemorandum of Understanding between the Financial Conduct Authority and the Bank of England, including the Prudential Regulation Authority
Memorandum of Understanding between the Financial Conduct Authority and the Bank of England, including the Prudential Regulation Authority Purpose and scope 1. This Memorandum of Understanding (MoU) sets
More informationGuidelines for Companies (Special Licence)
Guidelines for Companies (Special Licence) FINANCIAL SERVICES AUTHORITY P.O. Box 991 Seychelles International Trade Zone Roche Caiman Mahé Seychelles Tel: +248 4380800 Fax: +248 4380888 Website: www.fsaseychelles.sc
More informationCompany Formation. 1. Promotion 2. Incorporation 3. Capital Subscription 4. Commencement of business
Company Formation 1. Promotion 2. Incorporation 3. Capital Subscription 4. Commencement of business Formation of Company In the formation of public company having share capital, mainly four stages are
More informationNorthern Territory of Australia. Government Gazette. No. S60 11 June 2015
Northern Territory of Australia Government Gazette ISSN-0157-833X No. S60 11 June 2015 Northern Territory of Australia Children's Commissioner Act Appointment of Children's Commissioner I, John Laurence
More informationDraft Australian Privacy Principles (APP) Guidelines first tranche
The Association of Superannuation Funds of Australia Limited ABN 29 002 786 290 ASFA Secretariat PO Box 1485, Sydney NSW 2001 p: 02 9264 9300 (1800 812 798 outside Sydney) f: 1300 926 484 w: www.superannuation.asn.au
More informationSTRUCTURING A BUSINESS AS A LIMITED LIABILITY PARTNERSHIP (LLP)
STRUCTURING A BUSINESS AS A LIMITED LIABILITY PARTNERSHIP (LLP) CORPORATE LAW INTRODUCTION Partnerships have been used for many years as flexible business vehicles for enterprises, especially where they
More informationScoping Study for a National Not-for-profit Regulator
22 February 2011 The Manager Philanthropy and Exemptions Unit Personal and Retirement Income Division The Treasury Langton Crescent PARKES ACT 2600 By email: NFPReform@treasury.gov.au Dear Sir/Madam Introduction
More informationA superannuation fund that satisfied each of these requirements is then listed on HRMC's QROPs register.
16 June 2015 Mr Robert Corton Her Majesty's Revenue and Customs Pension Scheme Services Fitzroy House Castle Meadow Road Nottingham NG2 1BD United Kingdom By email : regulations.qrops@hmrc.gsi.gov.uk Dear
More informationPLANT VARIETIES PROTECTION ACT (CHAPTER 232A, SECTION 54) PLANT VARIETIES PROTECTION RULES
CAP. 232A, R 1] Plant Varieties Protection Rules [2006 Ed. p. 1 PLANT VARIETIES PROTECTION ACT (CHAPTER 232A, SECTION 54) PLANT VARIETIES PROTECTION RULES Rule 1. Citation 2. Definitions 3. Fees 4. Forms
More informationASIAN CITRUS HOLDINGS LIMITED (Incorporated and registered in Bermuda, registered number 33747)
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the contents of this document or the action you should take, you should immediately seek your own personal
More informationHow to improve HMRC s collection of debt: coding out. Response by the Association of Taxation Technicians
How to improve HMRC s collection of debt: coding out Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association of Taxation Technicians (ATT) is pleased to have the opportunity
More informationDownloaded from Datalog http://www.datalog.co.uk REGISTERED NUMBER: 07936588 (England and Wales)
REGISTERED NUMBER: 07936588 (England and Wales) Abbreviated Unaudited Accounts for the Period 6 February 2012 to 28 February 2013 for Shared Office Management Ltd Shared Office Management Ltd (Registered
More informationVAT: Changes to VAT invoice rules. Summary of Responses 17 December 2012
VAT: Changes to VAT invoice rules Summary of Responses 17 December 2012 Contents 1 Introduction 3 2 2.1 2.2 2.3 2.4 2.5 2.6 Responses to the technical note on changes to the VAT invoicing rules Simplifying
More informationCreditors voluntary liquidation
Creditors voluntary liquidation a guide for unsecured creditors Association of Business Recovery Professionals Creditors voluntary liquidation occurs where the shareholders, usually at the directors request,
More information2008 No. 495 COMPANIES. The Companies (Trading Disclosures) Regulations 2008
STATUTORY INSTRUMENTS 2008 No. 495 COMPANIES The Companies (Trading Disclosures) Regulations 2008 Made - - - - 23rd February 2008 Coming into force - - 1st October 2008 The Secretary of State makes the
More informationIt is hereby notified that the President has assented to the following Act which is hereby published for general information:-
PRESIDENT'S OFFICE No. 967. 14 June 1996 NO. 29 OF 1996: MINE HEALTH AND SAFETY ACT, 1996. It is hereby notified that the President has assented to the following Act which is hereby published for general
More informationTERMS OF REFERENCE OF THE AUDIT COMMITTEE
MODERN DENTAL GROUP LIMITED (Incorporated in the Cayman Islands with limited liability) TERMS OF REFERENCE OF THE AUDIT COMMITTEE (adopted on 25 November 2015) 1 MODERN DENTAL GROUP LIMITED Terms of Reference
More informationIntroduction to Accounts
Introduction to Accounts Copyright statement Sage (UK) Limited, 2012. All rights reserved We have written this guide to help you to use the software it relates to. We hope it will be read by and helpful
More informationVAT: Prompt Payment Discounts
VAT: Prompt Payment Discounts Consultation document Publication date: 17 June 2014 Closing date for comments: 9 September 2014 Subject of this consultation: Scope of this consultation: VAT invoicing and
More informationCONSULTATION PAPER NO. 1 2013 MANAGED ACCOUNTS
CONSULTATION PAPER NO. 1 2013 MANAGED ACCOUNTS This consultation relates to the possible amendment of Jersey s regime in relation to the regulation of the activities of those involved in the management
More informationColour Life Services Group Co., Limited 彩 生 活 服 務 集 團 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1778)
1. Members Colour Life Services Group Co., Limited 彩 生 活 服 務 集 團 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1778) Audit Committee Terms of Reference 1.1 The audit
More informationi-control Holdings Limited 超 智 能 控 股 有 限 公 司 (incorporated in the Cayman Islands with limited liability) (the Company )
1 Membership i-control Holdings Limited 超 智 能 控 股 有 限 公 司 (incorporated in the Cayman Islands with limited liability) (the Company ) TERMS OF REFERENCE OF THE AUDIT COMMITTEE (AMENDED AND ADOPTED BY THE
More informationLegal Practitioners Regulations 2014
Version: 11.6.2015 South Australia Legal Practitioners Regulations 2014 under the Legal Practitioners Act 1981 Contents Part 1 Preliminary 1 Short title 3 Interpretation Part 2 Notice requirements 4 Notification
More informationTHE OFFERING MEMORANDUM UNDER ONTARIO SECURITIES LAW By: Daniel A. Coderre Soloway Wright LLP
THE OFFERING MEMORANDUM UNDER ONTARIO SECURITIES LAW By: Daniel A. Coderre Soloway Wright LLP Many companies raise capital by offering shares in their capital stock for sale at one time or another. When
More informationKING III CORPORATE GOVERNANCE COMPLIANCE REGISTER
KING III CORPORATE GOVERNANCE REGISTER CHAPTER 1: ETHICAL LEADERSHIP AND CORPORATE CITIZENSHIP NON 1.1. The board should provide effective leadership based on an ethical foundation 1.2. The board should
More informationSupervisory Policy Manual
This module should be read in conjunction with the Introduction and with the Glossary, which contains an explanation of abbreviations and other terms used in this Manual. If reading on-line, click on blue
More informationHICL INFRASTRUCTURE COMPANY LIMITED
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the contents of this document or the action that you should take, you should seek your own personal financial
More informationGUIDE TO PUBLIC OFFERING OF COMPANIES IN GUERNSEY, ISLE OF MAN AND JERSEY
GUIDE TO PUBLIC OFFERING OF COMPANIES IN GUERNSEY, ISLE OF MAN AND JERSEY CONTENTS PREFACE 1 1. Introduction 2 2. Why Choose Guernsey, Isle of Man or Jersey? 2 3. Company Incorporations, Migrations and
More informationLimits to tax relief and tax-free benefits
TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits earned by individuals in the UK, which qualify to receive tax relief,
More informationSubmission to: The Local Government and Environment Select Committee. On: The Building Amendment Bill (No.4) From: Waikato Building Consent Group
Submission to: The Local Government and Environment Select Committee On: The Building Amendment Bill (No.4) From: Waikato Building Consent Group Waikato District Council Hamilton City Council Waipa District
More informationINVESTMENT TRUST COMPANIES: A TAX
1 INVESTMENT TRUST COMPANIES: A TAX FRAMEWORK Summary 1.1 Budget 2008 announced that the Government would consider adapting the tax rules for Investment Trust Companies to enable tax-efficient investment
More informationANYTHING OCCURRING ON LIQUIDATION WHEN A COMPANY REQUESTS REMOVAL FROM THE REGISTER OF COMPANIES
ANYTHING OCCURRING ON LIQUIDATION WHEN A COMPANY REQUESTS REMOVAL FROM THE REGISTER OF COMPANIES PUBLIC RULING - BR Pub 05/14 This is a public ruling made under section 91D of the Tax Administration Act
More informationDo I need a practising certificate?
Do I need a practising certificate? This factsheet examines the requirements for holding an ACCA practising certificate. It considers those areas of work where a practising certificate is required, but
More informationA CREDITORS GUIDE TO LIQUIDATORS REMUNERATION SCOTLAND
A CREDITORS GUIDE TO LIQUIDATORS REMUNERATION SCOTLAND 1 Introduction 1.1 When a company goes into liquidation the costs of the proceedings are paid out of its assets in priority to creditors claims. The
More informationSimplification of the Tax and National Insurance Treatment of Termination Payments
Simplification of the Tax and National Insurance Treatment of Termination Payments Consultation document Publication date: 24 July 2015 Closing date for comments: 16 October 2015 Subject of this consultation:
More information2.4 Where a court liquidation follows immediately on an administration the court may appoint the former administrator to act as liquidator.
1. Introduction 2. The Liquidation Procedure 3. The Liquidation Committee 4. Fixing the Liquidator's Fees 5. What Information Should be Provided by the Liquidator? 6. What if a Creditor is Dissatisfied?
More informationCORPORATE SERVICES IMMIGRATION. Memorandum On The Incorporation Of A Private Limited Company In Singapore
CORPORATE SERVICES IMMIGRATION Memorandum On The Incorporation Of A Private Limited Company In Singapore 1. Proposed Name of the Company A company cannot be registered under a particular name unless that
More information