Andrew Goldstone and Victoria Howarth provide an update, including: the increased transparency of ownership of UK companies; new HMRC guidance on the taxation of damages; a recent decision on reasonable excuse for late returns; and why professionals acting as charity trustees need to be aware of potential conflicts of interest
The government has recently published the Small Business Enterprise and Employment Bill following its response to the July 2013 discussion paper Transparency & trust: Enhancing the transparency of UK company ownership and increasing trust in UK business.
Clause 70 and Sch 3 of the Bill insert a new Part 21A into the Companies Act 2006 which requires companies to keep a publicly available statutory register of persons with significant control over the company (the PSC register).
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