Did anyone 'sack the secretary' today?

Chris(tina!) · #1 (**permalink**) 07-04-2008, 19:27

For those of you who have Ltd Cos, has the change in legislation made any difference to you? Did you have a quick meeting with your OH over the weekend explaining that they were no longer needed?

If you use your accountant etc, will you be changing that now?

(P.S. How do I edit the title? It makes me look a bit thick!)

pvcprinting · #2 (**permalink**) 07-04-2008, 20:09

Quote:

Originally Posted by Chris(tina!)

For those of you who have Ltd Cos, has the change in legislation made any difference to you? Did you have a quick meeting with your OH over the weekend explaining that they were no longer needed?

If you use your accountant etc, will you be changing that now?

(P.S. How do I edit the title? It makes me look a bit thick!)

what piece of legislation is that then?

Must have missed it

Chris(tina!) · #3 (**permalink**) 07-04-2008, 20:11

The Companies House Act 2006 (or whatever they call it - sorry, it's late!). The reg's re no need for a company secretary came in at the beginning of this tax year. I'll find a link if I don't fall asleep first!

Chris(tina!) · #4 (**permalink**) 07-04-2008, 20:12

http://www.companieshouse.gov.uk/com.../apr2008.shtml

Made a mistake - it's Companies Act and not Companies House Act!

Inzvestor · #5 (**permalink**) 07-04-2008, 20:14

The new legislation made no difference to me, but I can see that it will make some people's lives easier (for the control freaks who hate the thought of anyone else being in their business...)

It's often better to have the accountant act as the company secretary, taking care of the legal paperwork and reminding you when it needs to be done.

Peter W · #6 (**permalink**) 07-04-2008, 20:23

It should make it easier to start up a one-person company, as there will be one less person to have their ID checked by the bank.

Maxine · #7 (**permalink**) 07-04-2008, 20:33

In my opinion it will probably increase credit risk with small companies and the number of companies who go bust in their first year as control over the business will be with one less person and one less set of penalites.

Chris(tina!) · #8 (**permalink**) 07-04-2008, 20:40

Most of the Ltd's I deal with use the spouse as the company secretary so I don't see it as so great a risk to be honest, Maxine. I hardly see any using an accountant (which, to be hinest was just a paper exercise).

The credit risk to many is the same as for a sole trader - it is for banks anyway as they make the director sign a guarantee over any lending they take above a certain level.

Sometimes, I have chatted to husband and wife within a ltd co and asked the wife if she was aware what she had signed up to (sometimes, but not often the other way round) and they never did!

Indizine · #9 (**permalink**) 07-04-2008, 20:42

Ive sacked my secretary! I said their role was now redundant, that they were surplus to my requirements and I was no longer chucking my money at something I could see no value - clearly someone in Government spotted this too, and rightly so.

I mean, what purpose do they serve that my bookkeeper cant do? A few bits of paper here and there, and they think they're something important! Not anymore! Out the door they go! They clearly werent happy and had seen this coming, and my email to tell them was no surprise im sure, but maybe I could have phoned instead, would that have made it any easier? Anyway, im sure as they have many related skills they can find something else pretty soon.