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York Pla=
ce
Company News An update from York Place No. 93 Company formations, com=
pany
searches, company support services, trade marks If you cannot read this email,
click here<=
/a> |
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Pho=
ne: 0113
2245450 Fax=
: 0113
2245499 Ema=
il: <=
span
style=3D'color:white;mso-themecolor:background1'>formations@yorkplace.com=
York Place has specialised in company services for over 25 years.
Companies and searches can be ordered online at &nbs=
p; &nbs=
p; &nbs=
p; To unsubscribe from this email
newsletter please click bel=
ow White Rose House 28a York Place Leeds LS1 2EZ DX 26436 Leeds Park Square |
We incorporated our
first company in 1987. In those days we had to prepare everything on pape=
r,
take the documents to a solicitor to swear a statutory declaration, file
everything at Cardiff and wait about three weeks for the certificate to be
returned in the post. Since then we have been at the forefront of every n=
ew
development in company formation – starting with the first electron=
ic appointment
and resignation forms, then forming companies from the day the service was
introduced. Today we can incorporate a company within an hour of instruct=
ion with
our same day service, and the vast majority of our companies are completed
within 24 hours. In
December a total of 29,646 companies were incorporated in the UK, an incr=
ease
of 12.3% on the December 2010. The total register now stands at 2,798,983=
companies
and 50,597 LLPs. Penalty fines of £7m were issues for late filing
bringing the total revenue in fines for the financial year to over
£64m. The
Finance Bill 2012 proposes that the ability to return capital informally =
to
shareholders, contained in extra-statutory concession ESC 16, be placed o=
n a
statutory basis. Normally, where a company returns funds to shareholders =
that
are greater than the original capital subscribed, the excess amount is
treated as the receipt of a dividend for the shareholder, which is subjec=
t to
income tax. Under ESC C16, a shareholder can treat the dividend as a
capital receipt. This gives rise to a capital gain, rather than being tax=
ed
at higher income tax rates. Under the legislation from 1
March 2012 the amount that can be treated as a capital distribution will =
be
limited to £25,000. If the distribution exceeds this figure the who=
le
sum (excluding the original capital subscribed) will be taxed as income. =
Anyone who is intending to dissol=
ve
their company under the extra-statutory procedure is advised to consult w=
ith
their accountants as soon as possible. Gareth
Jones, Chief Executive and Registrar, is leaving Companies House at the
beginning of March to take on a role as acting Director General in the We=
lsh
Government. For the time being, the role of Registrar and Chief
Executive will pass to Tim Moss. Whilst
we always advise that professional advice be sought before incorporation,=
we recently
read this article which is very much in favour of
the limited company. Click here
to read the full version. At
York Place we are always looking at ways to improve our services and enha=
nce
client satisfaction. If you have any suggestions, please take a few minut=
es
to complete our survey<=
/a>.
Your input will be much appreciated and your name will be entered into our
Champagne prize draw.
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