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Companies Act 2006

Areas to consider on business sales include:

  • Fraud on minority and directors duties
  • Entrepreneurs relief first £1m of gains is taxed at 10% not 18% (since 6th April 2008)
  • Data Protection guidance
  • Updated TUPE (2006) regulations

Changes to Employment Law in 2009

Some of the changes/impacts in employment law are listed below:

Maximum compensation for unfair dismissal set at £63000 effective Feb 2009

Statutory Employment Leave will increase from 4.8 to 5.6 weeks effective April 2009

Increased maternity/paternity and adoption pay.

for other changes see http://www.acas.org.uk

Prescribed Particulars of Rights Attached to Shares

For a Company with standard Table A Articles and a single share, example wording that has been accepted by Companies House is shown below.

[Need to Cut and paste this in over the weekend 12/12/09 - hope it helps if you can wait]

 

 

Company Law changes effective by October 2008

  • Private companies no longer need to have a company secretary, if they do however the secretary will have the same authority as currently.
  • Auditors can by agreement with the company limit their liability in respect of the audit

Pension Changes

From 6th April 2010 the minimum age at which you can take benefits from your pension plan is being raised to 55. You may still be able to take benefits before the minimum age if you stop doing your job because of illness or injury or if you have an occupation which is known as a special occupation, such as a professional sports person that is not affected by the change.

www.icaew.com

 

 

 

Disclaimer: The information does not represent all the changes/ actions/ requirements of the topics described above and is based on information available in February 2007.

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