THE Small Business, Enterprise and Employment Act 2015 is intended to increase transparency in the ownership and control of UK companies.

The key provisions include: Aims to improve transparency over who controls UK companies, and to deter and penalise those who conceal their interests. Companies must maintain a public register of people with ‘significant control’ over the company and the Act prohibits the appointment of ‘corporate’ directors.

Measures to simplify and provide more flexible company filing requirements. The Act dispenses with the requirement to file an annual return and replaces it with an annual confirmation statement.

Strengthening of the directors’ disqualification provisions in the event of misconduct. The Act also reduces the time it takes to strike off a company.

For more information on how this will affect your company, please contact Alec Brooks, partner and head of the commercial services team at Lamb Brooks LLP on 01256 305503 or at alec.brooks@lambbrooks.com.