News about company formation

The Money Laundering Regulations 2007 document

These Regulations replace the Money Laundering Regulations 2003 (S.I. 2003/3075) with updated provisions which implement in part Directive 2005/60/EC (OJ No L 309, 25.11.2005, p.15) of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing. A Transposition Note setting out how the main elements of this directive will be transposed into UK law is available from the Financial Services Team, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ. An impact assessment has also been prepared. Copies of both documents have been placed in the library of each House of Parliament and are available on HM Treasury’s website.

Employment, Health and Safety regulations

There are numerous laws and regulations governing the management of Employment Law and Health and Safety issues for all UK based employers.

Coddan recently engaged into a partnership with Croner Consulting, one of the UK’s largest and most experienced providers of in-depth advice and practical support for businesses in the high-risk areas of Employment, Health & Safety and other regulatory areas.

Croner has been in business since 1942 and has built a reputation for providing reliable support for legal compliance and best practice in the areas of employment law and health and safety regulations.

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Changes to the Companies Act of the United Kingdom

The existing legislation which governs companies in the United Kingdom, the Companies Act 1985, has been under review for some time and has recently been superseded by the newly passed Companies Act 2006. The changes contained in the new act will be introduced over the following two years. The first set of provisions will come into effect as of the 1st of January 2007, followed by a second set of provisions taking effect from April 2007. The remain provisions will be implemented according to a timetable which is yet to be finalised.

Documents posted to Companies House

In response to recent complications and delays experienced by our clients following the changes to the postal rates in the United Kingdom, Coddan is advising all of our clients to ensure that all documents being sent to Companies House via Royal Mail carry the correct postage.

Advice on the format of emails

In response to the prevalence of the use of email communications, we would like to offer our clients some advice on how they can format their company's official emails to include confidentiality notices and disclaimers, and to comply with recent changes to the companies act.

How the new legislation affects a company's website and emails

In response to recent changes in the legislation governing companies in the United Kingdom, we would like to inform our clients of the new statutory disclosure requirements as they relate to a company's stationery, website, order forms, and emails, and to offer advice on how companies can comply with these new requirements. Companies which no not comply with the statutory requirements will be in breach of the Companies Act 2006, and will face the possibility of fines.

Changes to the VAT law

The HMRC are introducing quick and effective changes to UK VAT law in order to counter the growing number of VAT ‘carousel’ fraud.