Employment Law – new vetting scheme

Changes to employment law are underway. From the 12 October 2009 new measures are being introduced to vet the suitability of persons working with children or vulnerable adults.

It is to be called the Vetting and Barring Scheme (VBS) and will be

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administered by a new public body to be called the Independent Safeguarding Authority (ISA).

From July 2010 all new employees can register with the ISA.

From November 2010 all new employees and volunteers must register before they start work. Until they have registered they cannot be legally employed.

Failure to comply with the new registration demands could possibly result in custodial sentences for the employee and the employer!

A range of useful online tools, posters and leaflets can be downloaded from the ISA web site at www.isa-gov.org.uk/toolkit or call 0300 123 1111.

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Companies House – the new regime

New Filing deadlines:

Companies with accounting periods beginning on or after the 6 April 2008 are subject to the following changes to the filing deadlines with Companies House.

1. Private companies and LLPs – the delivery deadline has been reduced by one month from 10 months to 9 months.
2. Public companies – the delivery deadline has been reduced by one month from 7 months to 6 months.

Consequential changes include:

* Full calendar months for filing periods have been introduced. Where the accounting period ends on a month end date the accounts filing period will end on a month end date. (Except for the first accounting period)

* Qualifying companies can still file abbreviated accounts.

Increased late filing penalties, private companies:
(Penalties for public companies are shown in brackets)

The penalties shown below apply to late filing of accounts on or after 1 February 2009.

* Not more than 1 month late, penalty £150 (£750)
* More than 1 month but not more than 3 months late, £375 (£1500)
* More than 3 months but not more than 6 months late, £750 (£3000)
* More than 6 months late, £1500 (£7500)

If a company fails to file on time for two successive years, the penalties are doubled in the second year.

The role of Company secretary

From 6 April 2008 private companies can choose whether they wish to have a company secretary or not.

If you decide to dispense with a company secretary’s appointment you will need to:

* Notify Companies House using the appropriate form.
* Amend the company’s articles of association. (Only necessary if the articles specifically require that company has a secretary.)

A company can now have a sole director and no company secretary, ie just one officer is required.

Please note that from 1 October 2008, if you do keep your company secretary, they will be able to file a service address for the public record.