property A significant change
David Brookes FCA, of HWB Chartered Accountants, takes a look at some significant changes brought about through the Small Business, Enterprise and Employment Act 2015 (SBEEA)
Small businesses have a new obligation as a result of the Small Business, Enterprise and Employment Act 2015 (SBEEA).
The aim of the SBEEA is to enhance transparency in the ownership of UK companies and increase trust in the UK as a place to do business. As part of the Government’s Red Tape Challenge, the SBEEA has made changes aimed at simplifying filing for small businesses and improving the accuracy of information on public registers at Companies House.
The most important aspect of the SBEEA is the new legal requirement for all UK companies (with some limited exceptions) to create and maintain annually a register of ‘persons of significant control’ (PSC) over the business.
This can be done as a ‘confirmation statement’, which replaces the company’s annual return filed at Companies House each year. For companies, a person with significant control is anyone that meets one or more of the following:
• holds more than 25% of the company shares;
• holds more than 25% of voting rights;
• holds the right to appoint/ remove the majority of directors;
• has the right to exercise significant influence;
• has the right to exercise significant influence or control over a trust or firm that has significant control over a company.
There are no set dates to submit the statement, but no more than
12 months can pass from the time the original statement was submitted. The new statement will, like the annual return, need to be filed at least once a year.
For most companies it will be a simple case of clicking and confirming that the data held at Companies House is the same as the data held in the previous year. The date of the statement can be kept as the same as the annual return or a year from any additional filed statements.
“The new rules for PSC came into force in April 2016 and by now every company should hold a PSC register,” said David Brookes FCA, of Southampton-based HWB Chartered Accountants.
“From June all new companies incorporated in the UK are required to include information
Expansion for MC Plan & Site Services MC Plan and Site Services, the local independent
Mark Cook with the surveying team
Mark Cook, managing director, said: “We’re in the business of helping others with their expansion plans, whether for a residential property extension or the development of commercial sites, so for us to be the subject of the expansion makes a change. The past three years have seen us grow by more than six-fold, so the time has come to move again.”
MC Plan and Site Services, is an Independent Building Control Consultancy company, providing a competitively priced alternative Building Control Service as opposed to the local authority.
Based in the Bournemouth 52
businessmag.co.uk
and Poole areas, the firm is licensed and regulated by the Construction Industry Council (CIC) to carry out the Building Control Service throughout England and Wales.
Working previously for both the NHBC and Local Authority Building Control, Cook’s knowledge base and experience is extensive and varied across both public and private sectors, incorporating refurbishments and redevelopment of commercial premises across the south.
Cook said: “We provide a personalised and professional service to all our clients regardless of size and value. We encompass
Approved Building Inspector consultancy, is delighted to announce its move to larger offices in Dorset
all building control services under one roof in an efficient and cost- effective manner.
”We work for large developers, contractors and commercial agents, as well as householders across the area. We can prioritise site visits and, wherever necessary, provide an inspection service outside of the usual office hours, which is a great advantage to our clients – especially commercial clients with the restrictions of office opening – which can make their lives easier.”
He added: “With this efficient and flexible approach, we can also provide our services at very competitive rates.”
MC Plan and Site Services operates right across the southern region to include London, Hampshire, Wiltshire, Devon, Somerset, Surrey and Sussex and offers the following services:
1 Fire-risk assessments 2 Technical seminars 3 Disability access consultancy.
mcplanandsiteservices.co.uk Twitter: @mcpass30 Facebook: MCBC1 LinkedIn: mc-plan-and-site- services-ltd
01202 744966 David Brookes FCA
on PSC as part of the formation process and all confirmation statements must also disclose the same information when the statements are due for filing.”
HWB Chartered Accountants specialises in SBEEA requirements and can help your company ensure it complies with the Act.
David Brookes 023 8046 1239
david.brookes@hwb-
accountants.com www.hwb-accountants.com
THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – SEPTEMBER 2016
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