The staged introduction of Companies Act 2006, has already made interesting reading. It appears as though the ASB are taking a more ‘practical’ view on company statute and are making some impressive ‘common-sense’ amendments to an outdated CA85.

The next stage, is anticipated to be rolled out for implementation from 6th April 2008. The major developments worthy of mention are

• Private companys are no longer required to have company secretaries.
  
  
• There is a shorter filing period as mentioned in a previous blog (private companies have 9 months).
  
  
• There are no longer any medium sized group exemptions (ie all non-small groups will need to consolidate).
  
  
• The turnover exemption for medium sized companies has also been abolished.
  
  Watch this space for more updates and news, alternatively contact us directly…
  
  Related Links
  
  BERR:
  http://www.berr.gov.uk/bbf/co-act-2006/index.html
  ICAEW:
  http://www.icaew.com/index.cfm?route=145195
  

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