What Are Statutory Books and Why Keep Them?

Statutory registers are the register of members, register of directors, register of secretaries and register of persons with significant control. Companies are also required by the CA 2006 to keep minutes of all directors’ board meetings and shareholder resolutions (historically also kept in hard copy in files like books).

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EIS: Raising money outside of the seven-year basic age condition

Generally, the position under the Enterprise Investment Scheme (“EIS”) is that a company cannot raise EIS qualifying investment monies once it has been trading for longer than seven years (this is termed by HMRC as the “basic age condition”) and this is confirmed in HMRC’s guidance manual VCM8151).

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Key Differences between Self-Employed and Employees

From 6 April 2020, changes will be introduced to the IR35 rules. These changes will make private companies responsible for assessing the status of the individuals they engage as contractors for the purpose of calculating income tax and national insurance contributions.

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Coronavirus Job Retention Scheme and furloughed workers

Chancellor of the exchequer Rishi Sunak has announced a new package to help employers retain staff during the Coronavirus pandemic, such as the new Coronavirus Job Retention Scheme (“CJRS”), under which government grants (as opposed to loans) will be used to help employers cover 80% of the salary of PAYE employees who would otherwise have been laid off as a result of the downturn created by the ongoing Coronavirus crisis.

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