companies Archives - WRLO Accountants

Companies House begins to verify identities

WRLO Accountants — Sat, 19 Apr 2025 12:11:10 +0000

A new service has been launched that allows individuals to verify their identity directly with Companies House through GOV.UK. The introduction of identity verification is one of the key changes to company law as part of the Economic Crime and Corporate Transparency Act 2023. Companies House has landmark new and enhanced powers to combat economic crime and boost economic growth. More than six million people will be required to comply in the 12 months after identity verification becomes a legal requirement later this year. According to Companies House, identity verification will provide more assurance about who is setting up, running, owning and controlling companies in the UK. Louise Smyth, CEO of Companies House, said: ‘Identity verification will play a key role in improving the quality and reliability of our data and tackling misuse of the companies register. ‘To save time later, we encourage directors, people with significant control of companies (PSCs) and those filing information with Companies House to verify their identity during the voluntary window. ‘We expect identity verification to become mandatory from Autumn 2025.’ Internet link: GOV.UK

The post Companies House begins to verify identities appeared first on WRLO Accountants.

Business groups say challenges remain despite encouraging Budget

WRLO Accountants — Sat, 06 Apr 2024 08:22:38 +0000

The UK’s business groups warned that challenges remain despite the Chancellor delivering an encouraging Spring Budget. The British Chambers of Commerce (BCC) said that while the cut to NICs would ‘boost jobs’ it had failed to ‘shift the dial’ for business. Shevaun Haviland, Director General of the BCC, said: ‘Following the Autumn Statement this Budget was always set to deliver less for business, although changes to national insurance will provide some momentum. ‘However, beyond this there were no major announcements to help shift the dial on conditions for business. Business confidence is improving but the coming months will remain challenging for many companies. It is vital that the economy remains front and centre of the campaign to come.’ The Institute of Directors (IoD) branded the Spring Budget ‘unremarkable’ for businesses. Roger Barker, Director of Policy at the IoD, said: ‘First and foremost, business was hoping for a Budget that would maintain a stable and credible policy framework for business. The Chancellor largely delivered that. However, beyond that, there was little in the announcements that can be regarded as a game-changer for business.’ Meanwhile, the Association of Independent Professionals and the Self-Employed (IPSE) said the Chancellor had ‘failed to address the […]

The post Business groups say challenges remain despite encouraging Budget appeared first on WRLO Accountants.

July 2023

WRLO Accountants — Thu, 06 Jul 2023 15:44:45 +0000

In this month’s Enews we look at HMRC’s extension to the deadline for voluntary NICs and the temporary closure of the self assessment helpline. We also update you on cost overruns on Making Tax Digital and the latest on UK inflation. With guidance on the National Minimum Wage and another increase to the UK’s base interest rate, there is a lot to update you on. HMRC extends deadline for voluntary NICs to April 2025 HMRC closes self assessment helpline for three months MTD expected to cost £1 billion more than originally forecast UK inflation stays at 8.7% Bank of England raises UK base interest rate to 5% More than 200 companies named and shamed for minimum wage breaches Post-Brexit trade plan must be replaced with ‘ambitious strategy’, says think tank Industrial strategy required to ‘focus on innovation’, says IoD HMRC extends deadline for voluntary NICs to April 2025 HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025. Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions is right for them, and also ensures individuals do not miss out on the possibility of boosting their State Pension entitlements. The original […]

The post July 2023 appeared first on WRLO Accountants.