...Overseas companies registered in the UK GPO1 March 2015 Companies Act 2006 Is this guidance for you? This guide will be relevant to you if: • you are an overseas company thinking of opening a UK establishment • you are an overseas company with a UK establishment looking for basic guidance on your continuing filing and disclosure obligations • you act as an adviser to an overseas company and are looking for guidance on registration and disclosure requirements in the UK GPO1 March 2015 – Version 3.1 Companies Act 2006 Page 2 of 22 Contents Introduction Chapter 1. Who needs to register? Chapter 2. Registration Chapter 3. Delivery requirements Chapter 4. Changing the accounting reference date or accounting requirements Chapter 5. Disclosure requirements Chapter 6. Insolvency, winding up and closure Chapter 7. Quality of documents Chapter 8. Further information This guide answers many frequently asked questions and provides information on completing the most commonly used filings relating to this area. The guide is not drafted with unusual or complex transactions in mind. Specialist professional advice may be needed in those circumstances. GPO1 March 2015 – Version 3.1 Companies Act 2006 Page 3 of 22 Companies Act 2006 Introduction This guide explains how to register an overseas company that opens an establishment in the UK. It also provides guidance on the disclosure obligations ...
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...Analysis on Costs and Benefits of the Financial Sector Within the UK. * * * * * * * * * * * * * * * * * Introduction The international financial crisis has drawn an international attention in financial regulation and policies made by governments have become increasingly prominent. In particular, strengthening financial regulation in London as an international financial centre requires huge efforts. London has been able to an international financial centre continuously, mainly due to a large number talent are familiar with the financial industry London has a unique advantage in language and location (Re, 2005). In addition to banking sectors, insurance, trust, securities and asset management business also developed. However DeMartino (2000) highlighted the current global economic depression and international financial crisis, along with UK Treasury published paper “The reform of the financial markets” referred to as “the worst crisis in 60 years”. In contrast, Frieden (2000) described the analysis of the causes of the British government's international financial crisis, and make policy recommendations on how to strengthen financial regulation. UK Financial Regulation Authorities According to Green (2011) Britain's “2009 Banking Act” was taken effect in which compared with the previous various banking laws, this law shows characteristics such as authorizing the Bank of England more...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...CHAPTER 2: REGULATION IN FINANCIAL ACCOUNTING Chapter 2 regulation in Financial accounting LEARNING OUTCOMES Upon completion of this chapter you should be able to understand: • The difference between management and financial accounting. • Why accounting regulations are important and required. • The need for and the structure of professional regulation, company law, stock exchange legislation and EU Directives. • How the different aspects of regulation work together and complement each other. • The process through which an accounting standard comes into being. REVISION RESOURCES EXAM QUESTIONS: Sample and Past papers are available from the website of Accounting Technicians Ireland and are essential aids when studying Advanced Financial Accounting topics. 7 Chapter 2 : Regulation in Financial Accounting 2.1 Advanced Financial Accounting the FunCtion oF FinanCial aCCounting and reporting The International Accounting Standards Board (IASB) in their Conceptual Framework for Financial Reporting state that ‘the objective of general purpose financial reporting is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity. Those decisions involve buying, selling or holding equity and debt instruments, and providing or settling loans and other forms of credit’. This Conceptual Framework...
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...the EEA, it remains a member of EFTA. More than 120 sectoral bilateral treaties linking the country with the EU incorporate largely the same provisions as those adopted by the other EEA countries in the fields of the free movement of people, goods, services and capital. What does the EEA agreement include? The EEA agreement includes: Free movement of goods, capital, services and persons. Agriculture and fisheries are not covered by the EEA agreement. Common competition regulations (cooperation on the regulation of competition, state aid and monopolies) and harmonizing company law. Cooperation on transport policies. Common veterinary regulations (but as a main rule tariffs on trade in agricultural goods still applies). Cooperation on environmental protection, education, research, consumer protection and social policy. Structures for consultations, in which the EEA-EFTA states will participate in development of future EU law that may become EEA law. A common decision-making process in which the EU...
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...LO1 Understand the organizational purposes of businesses. ACs 1.1 identifies the purposes of different types of organization. Tasks 01 Legal Structure of Business Organization: A business Organization may have three legal option or structure, they are: Sole Trader: A person who runs unincorporated business on his or her own. Sometimes it is known as "sole proprietor" or "sole practitioner". Partnership: A partnership is an association of two or more people formed for the purpose of carrying on a business. Partnerships are governed by the Partnership Act (1890). Incorporated Company: Incorporating business actions into a company confers life on the business as a "separate legal person", Profits and losses are the company's and it has its own debts and obligations. Types of the Business Organization: Private Company: A company whose ownership is private. Private companies may issue stock and have shareholders. Public Company: Public Company may be defined as, A company that has issued securities through an initial public offering (IPO) and is traded on at least one stock exchange or in the over the counter market. Government Company: Government Company may be defined by, it is a legal entity created by a government to start money-making activities on behalf of a proprietor government. Voluntary Organization: Voluntary organizations may be defined as, organizations are non-profit ambitious, self-directed and non-statutory, that are run by persons...
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...Mc Cormack Sarah Jane Mc Cormack BUsiness law: lo1 Nicola Crawford 0700206 BUsiness law: lo1 Nicola Crawford 0700206 Contents Sources of Legislation 2 Judicial Precedent 2 Institutional Writing 3 Custom 3 Sources of Legislation Legislation is the process or enacting of laws. In Scots Law there are a few legislations that are legally binding, in particular the Scottish Parliament, UK Parliament and the European Union. The UK Parliament passed the Scotland Act 1998 which in turn created the Scottish Parliament. The Scottish Parliament consists of Acts of the Scottish Parliament, Scottish Statutory Instruments and Scottish Councils can make Bye-Laws. The Scots Parliament have been given devolved powers (also known as legislative competence) by the UK Parliament meaning that they have control of certain areas, these being the legal system (so long as it does not contradict the legal system of the UK Parliament and European Union), agriculture, education, environment, health, arts, housing, local government, rural affairs, sport, tourism, local transport and some limited tax powers. The UK Parliament is another source of legislation that is binding in Scots Law. The UK Parliament consists of Acts of the UK Parliament and Statutory Instruments. The UK Parliament has reserved powers meaning that the Scots Parliament cannot pass legislation in certain areas such as foreign policy...
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...Table of Contents Task 1, 1.1 Descibe the UK tax environment. 3 Task 2, 1.2 Analyse the role and responsibilities of the tax practioner. 7 Task 3, 1.3 Explain the tax obligations of tax prayers or their agents and the 8 BIBLIOGRAPHY. 10 Task 1, 1.1 Descibe the UK tax environment. Taxation means by which governments finance their expenditure by imposing charges on citizens and corporate entities. Governments use taxation to encourage or discourage certain economic decision. Taxation in the United Kingdom may involve payments to a minimum of two different levels of government, Her Majesty’s Revenue and Customs and local government. The purpose of taxation is to allow the UK government to be able to raise funds to pay for the running of the country that includes education, roads, health services and others more. The taxation in the UK largely administered by Her Majesty’s Revenue and Customs and established in 2005 by the Act of Parliament. The revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Follow by the government departments responsible for the administration of all aspects of the UK tax system for business and individuals, which its revenues come primarily from grants from central government funds, business rates, Council Tax and increasingly from fees and charges such as those from on-street parking. The UK monetary year runs from 6th April to 5th April the next year. It will passed...
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...Unit 1: Business Environment | Assignment 3: The Impact of Business Environment on Organisations | For the attention of: Tracey baker | In this report I will talk how two businesses operate and function in two different economies. The report will also include a detailed outline on how political, legal, social factors affect both businesses in two economies. The two organisations may face challenges in the future and how political, legal and social factors may impact an organisation. P5 Tesco (UK) What is an economy? An economy is made of millions and millions of people making decisions, trading goods and services. The economy applies to everyone from individuals entities such as corporations and governments. The economy of a particular region or country is governed by its culture, law, history, and geography among other factors. There are three types of economies market economy, command economy and mixed economy. The economy is very influential on how good Tesco do in a financial year; so if there is a good economic environment the confident customers will be more willing to spend money than customers with low confidence, which means that Tesco is more likely to benefit if the customer confidence is high. Stages of high customer confidence can confidence can present opportunities for Tesco to expand or bring new products to the market. Low confidence of customer’s means that Tesco have to cut cost to maintain profits. The UK economy is currently in the...
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...Coursework 1 - Microeconomic concepts Every organization has to analyze its business environment before making policies and strategies for its day to day operations, marketing and promotional efforts, and competing with the industry rivals (Loudon, Stevens, & Wrenn 2004). The key factors of the business environment that affect the business operations of a company include political, economic, technological, environmental, cultural, and demographical factors. This essay will explain various markets structures which are monopoly, oligopoly, perfect competition and monopolistic competition. The purpose of this paper is to discuss the impacts of different environmental factors on the business operations of Barclays. The discussion has been made in the light of international accepted microeconomics concepts and practices. Market structures Monopoly is a market structure, where only a single seller producing a product having no close substitutes. This single seller may be in the form of an individual owner or a single partnership or a Joint Stock Company. Such a single firm in market is called monopolist. Monopolist is price maker and has a control over the market supply of goods. On the other hand, Perfect competition a market structure characterized by a large number of firms so small relative to the overall size of the market, such that no single firm can affect the market price or quantity exchanged. Perfectly competitive firms are price takers. Moving on, in an oligopoly...
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...“Consumer protection”. Under UK law, customers have the same powers as in any other types of commerce. The government is also longing to change existing regulations to help to clear up any obscurity in present law to help trade and ultimately customer protection. These acts and rules are the next: 1) The Data protection act 1998; 2) The Customer protection act 1998; 3) British codes of advertising and sales promotion; 4) The Distance selling laws 2000; 5) The Unfair contract act 1977 and 1999 laws; 6) The Sales of goods act 1979; 7) The Customer credit act 1974; 8) The Commerce presentation act 1968. So at the very beginning, a basic question in customer protection: who is the customer? The idea of the customer in legislation is of recent spring. The great part of law is still included in the Civil Code written in the late 19th century on the sample of the Code Napoleon. The Code still today gives the great part of the regulations governing agreements in general, the agreement of selling and the supply of services. It will hence come as no surprise that the concept of customer protection and the body of the customer had not yet been favourably identified or created at that point. The word “consumer” is noticeably missing from the Code which did not and still does not identify the notion of the customer as such. Much of the primary Code is still in its original form and some of its regulations do not depict the present, complex...
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...Online Purchasing of Goods and Services Amr El Sayed 900091985 Maie Kandeel 900100546 MGMT 311 Business Law Dr. Ahmed Sallam Fall 2013 Abstract: Online purchasing of goods and services has become increasingly common with the increased use of Internet and online services, enhancements in technology and globalization of the world. Because this issue has become more common, security of buyers and sellers is a pressing issue that needs to be looked into. Online contracts and payments play a big role in the purchasing of online goods and services and this will be the main purpose of this paper. Table of Contents I. Introduction to online purchasing of goods and services II. Contract Formation III. E-Signature IV. Laws related to online purchasing of goods and services a. Traditional Consumer Protection Regulations b. Online Regulations V. Advantages and disadvantages c. Advantages d. Disadvantages VI. Fair contract terms and conditions VII. Protection e. Protection against stealing f. What to do if you have a complaint VIII. Case Study IX. Bibliography I. Introduction to online purchasing of goods and services Online purchasing of goods and services is basically electronic commerce, where consumers directly buy goods and services over the Internet using a web browser. Or in more recent years, through a phone application, this is known as mobile commerce or m-commerce. Online commerce substitutes for the activity...
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...global decline in growth, important rate of unemployment, rising protectionism... Thus, it seems relevant to wonder about the key stages of what has been called “The Great Recession” which began approximately on 15th September 2008 with a huge “domino effect” that was born right after the US government allowed the investment bank Lehman Brothers to go bankrupt. Indeed, the American firm implanted in London did not follow UK law, which caused its loss and is one of the numerous convincing facts showing that economic issues are directly linked to business law. After that, people started looking for elements that should have alarmed them. The example of the Greenbury Report (published in 1995) was destabilizing since it showed that corporate governances were already concerned about excessive executive remuneration because of previous cases that seemed to become widespread and responded to the name of “Fat Cat incidents”. And that is one of the issues approached in the movie “Inside Job”. Also, it is important to say that even if the Greenbury Report was the first UK report which was really giving some directives for executive remuneration, it was only about “recommendations” whereas, years after, in 2002, the act Sarbanes-Oxley...
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... 5 * corporate social responsibility * definition of corporate social responsibility * Company profile * RBS social policy 6 * definition of social policy * corporate social responsibility activities in RBS * conclusion A case study-The financial crisis This case is examining the dispute between the government and the banking sector .it exposes the conflict between the need for tightly regulated banking sector and the need to keep the bonus driven structure. The UK Govt are planning to put forward a regulation reform that will force the banks to separate their retail banking from the rest of their businesses and above all the riskier investment operations and to increase the amount they have to keep in capital in the bank as a buffer against future shocks. However not all stakeholders agree with the UK government proposed reforms. Many industries has added their voices to the banks in claiming that structural reform will reduce lending volumes and also render London less competitive as an international banking centre. Question 1.1 Identifying each of the stakeholders and how they are affected. What are the main harms and benefits in this case for different stakeholders based on the...
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...Name : Corina Kwok De Los Santos Programme : BSc(Hons) Business and Management Studies Intake No. : Intake 39 Module : Global Business Environment ____________________________________________________________ __________ Company background Tang Dynasty Hong Kong (Holdings) Limited (“Tang Dynasty”) is a well-known traditional Chinese dessert and sweets company with numbers of stores in HK and China. Tang Dynasty opened its first shop in Centre Street, Sheung Wan District in 1885, over 100 years of history. Tang Dynasty is recognized and renowned as traditional, home-style healthy desserts stores. Over the past few decades, Tang Dynasty has developed into renowned dessert chain stores, providing healthy homemade style Chinese herbs desserts to local customers as well as foreign tourists. All local customers, no matter elderly or youngster, fell in love with Tang Dynasty’s desserts. All desserts in Tang Dynasty are good to human health and made by secret recipes of the ancestor of Tangs. Each dessert addresses to different kind of functions and could help in improving human’s health in Traditional Chinese Medicine’s aspect as all desserts are made by Chinese herbs. After years of efforts and developments, Tang Dynasty has positioned them as a Leader of Traditional Chinese dessert and has won the respect and appreciation from the domestic customers and foreign tourists. Over the years, Tang Dynasty has insisted in providing fresh and top-quality desserts to its customer...
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