What are a company or corporate Secretarial Services? Why do you need a secretary?

What are a company or corporate Secretarial Services?

A company secretary is an officer who is in charge of keeping the company in line with laws and regulations. Since April 2008, private companies don’t have to have a secretary unless their articles of association say so. However, law still requires public companies to have a secretary (PLCs).

Below, we give a brief overview of the job, including what a company secretary does and how a private limited company in the UK can hire one.

What a company secretary does?

Company secretaries are in charge of important administrative tasks and are there to give directors advice about corporate governance and compliance. Even though the Companies Act of 2006 doesn’t say what a company secretary’s exact duties are, they can be many and usually include the following:

  • advising the board of directors on their individual and group responsibilities
  • Keeping up with changes to laws and rules that are important to you
  • Making sure the company and its directors follow corporate law, the articles of association, employment law, health and safety, data protection, intellectual property, and any other business-related laws and rules. Serving as a point of contact for shareholders and other outside stakeholders.
  • Keeping company records (called “statutory books”) and making it easy for inspections to happen
  • Keeping company documents safe, such as the certificate of incorporation, articles of association, share certificates and stock transfer forms, contracts, and service agreements
  • Getting Companies to Know Changes to certain company information
  • Making the annual confirmation statement and sending it in
  • Organising board meetings and general meetings
  • Taking care of HMRC’s registration, record-keeping, and filing requirements, such as for Corporation Tax, VAT, PAYE, and payroll.
  • Appointing accountants, auditors, and other outside advisors and regulators and keeping in touch with them
  • Taking care of company pensions and stock plans
  • How to handle share allocations, transfers, and dividends
  • Keeping up with the company’s registered office address, business premises and facilities, and insurance policies
  • Documents are signed on behalf of the company and its directors.

These are just a few examples of the main kinds of duties. Some secretary roles are just administrative, while others are just advisory. However, many secretary roles are all-encompassing, giving the secretary a powerful strategic position at the heart of the organisation.

How to become a secretary for a company

Most of the time, company secretaries are hired and fired by the board of directors. So, the board of directors of a company will decide what duties and responsibilities any secretary they choose should take on.

Why do you need a secretary?

If you run a private company and the articles of association say that the company needs a secretary, you must make sure that the company always has one.

If not, you don’t have to hire a secretary. Your decision will depend on a number of things, such as the size of the company, what it does, and whether or not the directors have the time, skills, and knowledge to do the job of a company secretary.

Who can I choose to be the secretary of my business?

In a private business, you can hire anyone over 16 years old. But the following people cannot be company secretaries:

  • The company’s auditor (this would constitute a conflict of interest)
  • A bankrupt who hasn’t been let off the hook, unless the court lets them.
  • Instead of hiring someone to do secretarial work in-house, many small businesses choose to send some or all of their secretarial work to specialised firms that offer chartered secretary services. This is often the best way to save money.

What do you need to know to hire a secretary?

Companies House needs the following information from you when you hire a company secretary:

  • Number of registration for a company
  • Full company name
  • Date of the meeting
  • The new secretary’s title, given name(s), family name(s), and last name(s)
  • Service address (also known as the secretary’s official mailing address)
  • The person’s “consent to act” as a company secretary is confirmed.
  • Companies House is where these particulars will be recorded for all to see. This is why it’s preferable to use a service address rather than the secretary’s personal residence.

The company must also write down information about the appointment in its statutory register of secretaries, which should be open to the public and held at the registered office.

How to hire a secretary for a limited liability company?

When choosing someone to be the company secretary, you must let Companies House know within 14 days.

You can also use form AP03 to let Companies House know about a new secretary appointment online, either through WebFiling or by mail.

Within 48 hours of receiving the appointment, it will be written down and added to the public register. Getting it processed and recorded will take a lot longer if you send it by mail.

You must also record the appointment in your company’s secretaries register as soon as possible, ensuring that the information is always up to date.

Our Full-Service Company Secretary

Taxsteins Ltd is a specialist in business and company secretarial services. We manage compliance of Companies House, as per the Company Act, for businesses of all sizes. We’re here to help, so please get in touch today if you need any help or advice.

  • Preparing and filing annual returns
  • Maintenance of statutory registers and submission of statutory documents
  • Completion of share transfer forms and certificates
  • General company law advice and protection of minority interests
  • Maintaining Board minutes and resolutions.

If you want to know more about what a company secretary does or have any questions, please contact us at info@taxsteins.co.uk or 02071559545.