Company Secretarial Duties
If you operate a small limited company, you are unlikely to have the in-house expertise to look after your company secretarial duties. You may not even realise that you need to do them! You can appoint a Chartered Company Secretary to look after complex matters such as group structures or re-structures but if your requirements are straight forward, Simply Additions can provide company secretarial services as part of your accountancy service package.
What are company secretarial duties?
- Filing the Annual Return with Companies House – this is the information on directors, shareholders, registered office and details of shares.
- Preparing board minutes and resolutions – for example, change of registered office and declaring dividends
- Preparing dividend vouchers
- Preparing share certificates
- Completing stock transfer forms for shares transfers
- Recording changes relating to directors and shareholders
- Recording changes to your accounting year end date
What are the risks of ignoring the secretarial duties?
- You could have your limited company struck off’ the Companies House register – your bank account will be frozen and it can be expensive to rectify the situation
- You could be charged with penalties from Companies House
- Your tax efficient plans could be overturned and HMRC could ask you to pay more tax or national insurance
These are just some of the reasons and hopefully they will illustrate that it is cost effective to make sure that your company secretarial duties are carried out correctly. Contact us to discuss how we can help you.