The Companies (Accounting) Act 2017 makes over 100 changes to the Companies Act 2014. Taken with the Companies (Amendment) Act 2017 and the Beneficial Ownership Regulations 2016, they have introduced significant changes to company and accounting law and practice. This book will explain and contextualise the many changes for legal and accounting practitioners. The Beneficial Ownership Regulations, in particular, are very technical and complex and this book will provide much-needed guidance for practitioners. Written by leading experts in the two relevant fields - accounting and law - this book is ideal for lawyers, accountants, and company secretaries.
Key areas covered by the book include:
* the new four-fold classification of companies for accounting purposes;
* micro companies - the new regime;
* consolidation of financial statements - key changes;
* disclosures in financial statements - key changes;
* the new rules regarding payments to governments;
* the shrinking exemption from filing financial statements for unlimited companies;
* changes to the definition of "external companies";
* changes to the s 357 guarantee;
* a comprehensive round-up of the non-accounting amendments to the Companies Act 2014; and
* the obligations imposed on relevant entities and beneficial owners by the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016
The chapters in this book comprise expanded versions of the papers given in Bloomsbury Professional's Companies (Accounting) Act 2017 & Beneficial Ownership Regulations seminar (October 2017).