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Reminders for Directors

  • One person can form a Ltd company.
  • Directors are to provide service address to Companies House for public record instead of residential address.
  • Service address can be the company registered office or other address as long as mails from Companies House can reach the directors.

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UK Tax Authority - HM Revenue and Customs

  • Companies are required to register for VAT if annual sales exceeded £68,000.
  • Companies are required to register for PAYE if directors are drawing salaries and maintain payroll records.
  • HM Revenue and Customs will issue £100 penalty if companies failed to file corporation tax returns on time.
 
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Continuing obligations for listed companies

 

Public listed companies have continuous obligations to maintain their compliance with the UK Listing Rules.  These continue obligations requirements are set out in Chapter 9 of the Listing Rules.

These include obligations the following:

  • To avoid a false market in the company's shares
  • To give notice of the date of a board meeting at which the directors will decide on payment of dividends and their decision;
  • To announce preliminary profits and losses for the year once the board has given approval for the figures,
  • To publish informa¬tion about certain acquisitions and realisations of assets including the purchase by the company of its own shares;
  • To comply with the detailed provisions of The Listing Rules as to the content of the company's annual report and accounts which includes the obligation to prepare half yearly accounts and
  • To give details of any change in the board of directors, as well as adopting rules on dealings by the directors in the companies' shares which contained in the Model Code on directors' dealings as spell  out in T he Listing Rules.

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