The following Corporate practice note provides comprehensive and up to date legal information covering:
Companies House has issued guidance for its customers, suppliers and employees on a number of temporary changes it has made to its usual procedures and services in response to the coronavirus (COVID-19) outbreak. This Practice Note summarises the key ways in which company filing and other administrative procedures have temporarily changed due to the crisis.
In light of the challenges presented by the coronavirus pandemic, Companies House introduced a streamlined process for companies to apply for an extension of the deadline for filing their accounts. Upon an application for an extension due to reasons connected with coronavirus, an automatic and immediate three-month extension to file the accounts would be granted. However, companies had to apply for the extension before the original filing deadline, and a filing period for accounts could not be more than 12 months from the date of the accounting reference period. See further: LNB News 25/03/2020 65 and LNB News 19/06/2020 29.
In addition to the ability to apply for an extension from Companies House, the Corporate Insolvency and Governance Act 2020 (CIGA 2020) which came into force on 26 June 2020 and The Companies etc. (Filing Requirements) (Temporary Modifications) Regulations 2020, SI 2020/645 (2020 Regulations) which came into force on 27 June 2020 provide temporary extensions of the period for companies and other entities to file their accounts
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On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
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