small company reform - Dec 2005
The DTI have published a White Paper on Company Law Reform. The aim
of this is to make company law more accessible to small companies without
being too restrictive.
Two of the potential changes are:
- the requirement for a private company to have a company secretary
to be abolished
- the deadline for a private company to file annual accounts at Companies
House to be reduced from 10 months to 7 months
The deadline for filing accounts is being advanced to reflect the improvements
in technology, particularly the use of computer based accounts packages
and the increased rate that information becomes out of date.
The expected date that these potential changes will be introduced, if
agreed, is currently 2007.
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