Changes to Nominee Company Secretary Service

07 September 2007

On July 11th, HMRC published its long awaited Guidance Notes clarifying its intentions for the application of Chapter 9 of ITEPA - now commonly referred to as the 'MSC Legislation'. (Click here to read the guidance notes.)
 
Since then Safe Business Services have been evaluating this guidance and taking professional advice on any potential impact for our business and our clients.

We are very pleased to confirm that our detailed adherence to regulation in this area has been shown to be positive in these guidance notes.

Whilst we are confident that the services we provide do not in any way "involve" us in any of our clients' business operations, to ensure a conservative and compliant approach to HMRC declared intentions, we will be ceasing to offer a Nominee Company Secretarial Service to accountancy clients who’s business is of a ‘service’ nature.

The role of company secretary and that of providing company secretarial support services to the company secretary are different and we are pleased to confirm that we can still offer company secretarial related services to support the appointed company secretary.

Formal notification from Safe Secretaries Limited, notifying clients of the necessary resignation from the position, will be issued throughout September.

It is currently a legal requirement for all limited companies to appoint a company secretary although this will cease to be a legal requirement after 6 April 2008.

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