Is your Website "Trading Disclosure" Compliant?
The Companies (Trading Disclosures) Regulations 2008 (SI 2008 No. 495) came into force on 1 October 2008.
The above Regulations tell us which trading disclosures must be made by limited companies and limited liability partnerships registered in any part of the UK.
The objective of the new Regulation is to ensure that the legal identity of every company should be revealed to all who have, or may wish to have, dealings with the company: in particular, so that those who contract with or have complaints against companies can discover the legal identity of the company in question.
Failure to comply with the Regulations can result in a fine of up to £1000 and an additional fine of £300 for each day that any such failure continues.
The principal disclosures that every company is obliged to disclose on its websites include: -
- The Company or LLP Registered Name
- The part of the UK in which the Company or LLP is registered
- The address of the Company’s or LLP registered office
- If, in the case of a Company or LLP having a share capital, there is a disclosure to the amount of share capital on its websites, that disclosure must be to paid-up share capital
- All companies or LLP’s, and particularly those who may use a brand or identity which is not directly reflected in their registered names, should revisit those websites and ensure that they are compliant.
Salena Dawson and Co can advise on whether your website is compliant please call 01953 883535 for an appointment.