Changes to legislation now take effect on a couple of dates per year. The most recent one is 1 October 2009.  With acknowledgement to Business Link NorthWest, here is a very short summary of the changes that are now effective. For further details and to receive regular updates, register for free at www.businesslink.gov.uk/northwest/regulationupdates

Taxes, returns & payroll. The Companies Act 2006

·         Directors' addresses: all companies will need to provide a service address for every director in their register of directors.

·         Company and business names: the detailed requirements and prohibitions for company and business names in the new legislation are largely the same as at present. However, measures will be introduced to enable the public to easily find a business name and prevent business names being misleading. 

·         Display of the company name at its premises: companies that are fully compliant with the existing requirements will not need to change the signs at their premises. However, a company will not have to display its business name where - for reasons of personal security - all of its directors are ones whose residential address cannot be disclosed to a credit reference agency.

·         Memorandums and articles of association: where a business incorporates on or after 1 October 2009, it will be able to use - if it so chooses - model memorandum and articles of association.

·         Company particulars in correspondence: a company will have to include its name in all forms of business documentation, including electronic documents. There is no change to the requirements to provide other information in business letters, order forms and websites.

·         Place for keeping key company records: every company will be able to have a single alternative inspection location (SAIL) as an alternative to its registered office, at which it must make its key records available for public inspection.

·         Inspection of company records: a person wishing to inspect a private company's records will have to give advance notice of the date and time they wish to carry out the inspection.

·         Providing copies of company records: if a person requests a hard copy of a company record, the company must provide a hard copy even if the record is held electronically.  If a person requests an electronic copy, the company must do so if the record is held electronically.

·         Notification of particulars of share capital: in an application for a new company, the particular of share capital will be included in a new 'statement of capital', rather than being included in the memorandum.  Any changes in capital will be notified to Companies House through a new statement of capital.

·         Reduction of share capital: as an alternative to the current process requiring court approval, private companies will be able to choose to reduce their capital by special resolution, supported by a solvency statement by each of the directors.

·         Overseas companies with a business establishment in the UK: there will be a single regime for the registration by overseas companies of the particulars of their UK establishments. There will also be a new regime for the registration of charges over property in the UK created by such companies.

·         Merger of Companies Registry in Northern Ireland with Companies House: there will be a single register of companies for the entire UK.

·         Record-keeping requirements for limited liability partnerships (LLPs): new record-keeping requirements will be introduced for LLPs.

·         Regulation of community interest companies (CICs): new provisions will enable a CIC to convert to the asset-locked form of a community benefit society and a Scottish charity to convert to a CIC.

·         Formation of limited partnerships: on registration, Companies House will officially confirm that a limited partnership has been formed. Limited partnerships will also have to include in their name an indication of their legal status.

Employing people

·         The national minimum wage (NMW): the NMW for eligible workers will increase. It will rise to £5.80 an hour for workers aged 22 and above and to £4.83 an hour to workers aged 18-21. The rate for those under 18 but above compulsory school age rises to £3.57 an hour.

·         Tips, service charges, etc and the NMW: bars, restaurants, hotels, etc will no longer be able to count service charges, tips, gratuities and cover charges paid to a worker through the employer's payroll as part of the NMW.

·         Redundancy payments and certain employment tribunal awards: the limit on a week's pay for calculating statutory redundancy payments, and tribunal awards that use a week's pay as the basis for calculation, will increase from £350 to £380.

·         Retail

·         Tobacco products: cigarette retailers will no longer be able to sell packets of cigarettes which do not bear mandatory picture warnings.

Construction

·         Part G of the Building Regulations 2000 will not come into force until 6 April 2010.