S R Lynn & Co Accountants - Cash Flow Forecasting, Budgeting, Management Reporting, Management Accounts, Payroll, Personal Tax, Corporation Tax, Company Nursing, Turnaround management, Milton Keynes, UK.

S R Lynn & Co

Companies Act 2006

This new Act is gradually coming into force over the period to October 2008. A couple of key points arising for our corporate clients:

In terms of filing obligations, the most significant change will be the reduction in filing deadlines for annual accounts. Private companies will have 9 not 10 months after the end of their reporting year.

There will be changes relating to directors and secretaries. A private company will not need a secretary, but if they do appoint one, the details of that secretary must continue to be filed. This takes effect in April 2008. In terms of the transition, it is assumed that all existing company secretaries remain in post unless advised otherwise, so a company which is retaining their secretary need not file anything. Please see also the new Financial Thresholds April 2008 and Trading Disclosures.
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