Many government departments synchronise the changes to businessregulations and issue them twice a year on 6 April and 1 October. Theseare known as common commencement dates. In 2008 there are a number ofamendments that could affect your nursery business:
The Companies Act 2006
Additional sections now come into force:
- For private companies it is no longer necessary to appoint a companysecretary.
- The signature of one director before a witness is now enough toexecute a deed.
Small companies and groups
Following changes to turnover and balance sheet thresholds, a smallcompany is defined by meeting two of the following criteria:
- No more than 50 employees
- An annual turnover of no more than 6.5m
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