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If you have a company for which you are the only director and you set the company up yourself, there might be an issue with solicitors/lenders if you look to buy a new property or re-mortgage existing property.
Recent case law has found the Articles of Association used for these companies are incorrect if there is only one director. As mentioned, this only relates to companies that you have set up yourself, if we set it up for you, the Articles are fine.
If you feel this may affect you, please let us know and we can check this for you. Some service providers are charging up to £550 to amend the Articles, but we can do this for £170.
Speak to your usual contact at Peplows for further information.
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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