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Company Secretary: Do You Need One?

Do you need a Company Secretary? The short answer is no but you do need someone who is going to carry out the company secretarial duties.

FOR IMMEDIATE RELEASE

 
PRLog (Press Release) - Feb. 24, 2012 - Private limited companies are not legally obligated to appoint a company secretary unless the company’s article has a reference to the company having a secretary. The duties of a company secretary still need to fulfilled whether or not someone has been formally appointed, whilst a public company is required by law to appoint a formal company secretary.

The duties of a company secretary can be carried out by the directors, an internal company secretary or outsourced to company secretarial provider or your accountant.

Company secretarial duties can vary depending on different factors such as the company size and its line of business, but they often involve some or all of the following:   

Typical company secretarial duties include:

Maintaining company registers: Every company must keep official records which include registers of directors, registers of members and registers of secretaries.

Managing the company records: Along with the statutory register, there are other records that companies are obliged to maintain including accounting and tax records, PAYE information, VAT records and insurance details.

Maintaining the company’s registered office:  Every company must have a registered office. The registered office must be a real address (PO Box numbers are not accepted), but does not have to be the company’s trading address.  For example, some companies use their accountants for company secretarial services and the accountants’ address as their registered office. The registered office is a place through which HMRC, Companies House and other government organisation need to be able to contact the company.

Companies House filings:  The annual return and company accounts must be filed with Companies House every year, failing to file these can leave company directors facing criminal prosecution.  A company has to file addition information to Companies House if they decide to change their accounting year end or company secretary or directors.

Organising the company’s board and general meetings: The company secretary is normally responsible for arranging board meetings and general meeting also they ensure that there is an appropriate record of the meeting.

If you need any advice on company secretarial matters or wish to outsource these services please have a look at our company secretarial page on our site:

http://www.accounting-help.co.uk

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Source:Accounting Help
Country:United Kingdom
Industry:Company Admin
Tags:company secretarial, accountant, accountants, companies house, company secretary
Shortcut:prlog.org/11807892
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