02/01/2019

_____

Company struck-off the Companies House register

If directors are late in filing their company accounts, and don’t reply to warnings from Companies House, their company can be struck-off the Companies House register and cease to exist.

If Companies House doesn’t receive a response from a company to three reminders sent over a two month period, it will commence proceedings to strike-off the company.

The legal steps in Companies Act 2006, s 1000, due to changes made by the Small Business, Enterprise and Employment Act 2015, s 103, can take only four months.

Therefore; you must act on correspondence received from Companies House otherwise you can lose your company!

Legislation: Companies Act 2006, s 1000 / Small Business, Enterprise and Employment Act 2015, s 103

_____

Making Tax Digital

The first to be affected will be small businesses and individuals with a turnover above the VAT threshold of £85,000, who will be required to keep digital records for VAT purposes from April 2019.

To comply with Making Tax Digital (MTD) businesses will need to keep digital accounting records and provide that digital information to HM Revenue & Customs (HMRC).

Further information available here:Making Tax Digital

GDPR

The GDPR forms part of the data protection regime in the UK, together with the new Data Protection Act 2018 (DPA 2018). The main provisions of this apply, like the GDPR, from 25 May 2018.

Further information available here: GDPR