Compliance for private limited companies in the UK means ensuring that the business is trading lawfully with all the many rules and regulations being adhered to. In the past, the person responsible for this role was clear cut: every private limited company was obliged to have a company secretary.
However, in 2008 the law changed and there is now no legal requirement to have one, although some companies still choose to do so. So do you need one or not?
While the job title may be superfluous to requirements nowadays, the duties carried out by a company secretary are still a legal requirement under the Companies Act. The person carrying out the duties is jointly responsible with the directors for ensuring the company complies with the law, and as such, can be prosecuted if they fail to do so.
In our short guide Choosing A Company Secretary we look at:-
- who can be a company secretary
- a company secretary’s duties
- failure to comply
- outsourcing your company secretary
Getting help – whether you are a sole trader thinking about setting up a limited company or self employed and considering becoming a contractor we can help. We offer full company secretarial service call 01233 63000 to speak of one our Business Services Team.