12 June 2020
Covid-19 Business Support Updater
Companies House Updates and Corporate Insolvency and Governance Bill
Corporate Insolvency and Governance Bill
The Government introduced an emergency Bill into Parliament to relieve the burden on businesses during the coronavirus (COVID-19) outbreak. The Bill is currently working its way through the House of Lords. The Bill will:
· introduce temporary easements on filing requirements and Annual General Meetings (AGMs);
· introduce new corporate restructuring tools to the insolvency regime to give companies the time they need to maximise their chance of survival;
· temporarily suspend parts of insolvency law to support directors during this difficult time.
Temporary easements on filing requirements and AGMs will include more flexibility around when and how AGMs are held, and extensions to deadlines for:
· confirmation statements;
· registrations of charges (mortgage);
· event-driven filings, such as a change to your company’s directors or people with significant control.
Many of the measures in the Bill will require secondary legislation before they come into force, and this will be introduced in due course. Please note that nothing will change until the legislation is introduced. The news story can be found by clicking here
Progress of the Bill and its provisions can be found by clicking here
Reduction in Fee – Removal of Home Address
From Monday, June 1, Companies House has reduced the fee to remove a home address which has been used as a registered, service or subscriber’s address from the public register. The fee has been reduced from £55 to £32. This is due to recently implemented software that has significantly reduced the processing time. Any applications made after January 15th 2020 will receive a refund in the difference. CH will be making contact directly with regard to this. Further information can be found on the CH website:
Companies House Guidance on Coronavirus Updated
An updated link to the guidance from Companies House on Covid-19 can be found here.