UK Company

In our preview e-news "https://www.intershores.hk/en/UKCo/2", it mentioned that the United Kingdom ("UK") Government has introduced legislation which increases the transparency of overseas entities, which own land or property in the UK. The Register of Overseas Entities (“the Register”) came into force on 1 August 2022, with a 6-month transitional period (until 31 January 2023) for all relevant entities to comply with the new registration requirements. In this e-news, we share an overview of the latest registration requirements. What Is Happening? In March 2022, the UK Government passed the Economic Crime (Transparency and Enforcement) Act 2022 (“the Act”)...

All UK companies registered with HMRC will receive a company Tax Return reminder on a yearly basis. If your company is dormant, you are not required to file the Tax Return but to mark your company dormant. Failure to file your company's Tax Return on time can result in your company receiving a penalty. Therefore, if you should mark your company Dormant with HMRC as soon as possible if your company has not traded. Once your company marked Dormant, you will also be required to submit dormant/non-trading accounts when it will be due. We can assist you to mark your company dormant or arrange dormant accounts. Please do not hesitate to contact us if you need assistance. ...

As part of the response to the Ukraine conflict, UK Government has fast-tracked The Economic Crime (Transparency and Enforcement) Act 2022 on 15 March 2022 to create a register of overseas entities that own U.K. land. This Act will have a significant impact on commercial real estate in the U.K. Register of overseas entities that hold UK land The Act establishes a new Register of Overseas Entities, to be maintained at Companies House. Overseas entity, as defined as a legal entity governed by the law of a non-UK country or territory which owns or plans to own a "qualifying estate" in UK property must apply to become a "registered overseas entity" on this register. A "qualifying...

The U.K. government has in 2021 introduced the world’s first public Register of Beneficial Owners of Overseas Companies and Legal Entities bodies that own UK property or participate in UK government procurement. The register is to be administered by Companies House and will adopt the same definition of ownership control that governs inclusion in the register of persons with significant control (PSCs) over UK companies i.e. individuals who: 1. hold more than 25% of the shares or voting rights of the company; 2. have the right to appoint a majority of directors of the company or have the right to exercise or actually exercise significant influence or control over the...