The British Registrar discloses information on companies’ directors

21.09.2012

 From 1^st October 2012 the British Registrar (Companies House) abolishes payment for information on directors of entities placed in Great Britain. Today this payment comprises 1 pound.

 Moreover, changes entering into force from 1^st October 2012 will also concern payments on electronic registration of companies (rates were reduced from 18 pounds to 15 pounds, except for LLPs – from 14 to 13 pounds).

 These changes were introduced to Parliament on 23^rd July 2012. One can acquainted with all changes on the official site of Companies House.

On the basis: http://companieshouse.gov.uk/toolsToHelp/proposedFeeChanges.shtml

Expert’s opinion

   The British Register of companies is already an open book. And sum of 1 pound has never stopped serious companies from verification of counteragents. After cancellation of payment for information on directors of legal entities, revision of companies will become rather easy.

  For respectable, law-abiding, functioning companies this novelty is not a threat. But figuring out the scams will become more convenient. It is undoubtedly a positive change!

  Only one question remains: will the speed of new data introducing into the Register change from the moment of submitting necessary forms? If the gap is long there is a risk that the director pointed in the Register won’t be entitled to make decisions on behalf of the company. In case of a significant time gap scams will be able to take advantage of it.

  The government of the UK gradually makes changes directed at improving of business-climate. About the one of them – “UK reduces requirements for accounting reports of companies” – we have already mentioned.

  I would like to suppose that the speed of data processing in the Register will also increase and information will be available in the on-line regime.

Yaroslav Lomakin ( Managing partner of company Honest & Bright)