Further delay on Corporate Director ban

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The Government’s drive to improve transparency of UK company ownership by putting a ban on corporate directors (subject to certain exceptions), has once again been put on hold. The provision introduced by the Small Business, Enterprise and Employment Act 2015, was originally due to come into force in October 2015, then October 2016, but has now seen a further delay, with no new firm implementation date being released.

At present, The Companies Act 2006 allows companies to have corporate directors (that is, one or more legal persons such as a company or limited liability partnership  who are directors) as long as one director is a natural person (i.e. an individual).

Once the ban comes into effect, there will be a 12-month grace period for existing corporate directors. Any corporate director still in place after 12 months (not covered by an exemption) will automatically cease to be a director.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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Accountancy firm expands with partner appointment


Green & Co feature on the Business Insider Wales website:

Green & Co Accountants and Tax Advisors has appointed Barrie Kenyon, 30, as partner.

Mr. Kenyon has been appointed to the Cwmbran-based business as it continues impressive growth and it looks to build on recent successes.

Having started at the firm 10 years ago and qualifying as a chartered certified accountant, Mr Kenyon has built a wealth of experience in all aspects of accounting.

Speaking of his appointment, Mr Kenyon said: “I am very grateful to Ed and Nick for providing me with the necessary training and support to further my career. I have thoroughly enjoyed working for Green & Co for the last 10 years and I’m looking forward to the new challenges this position will bring. We are always looking to expand our services to support our clients, most recently we have started providing probate services and research and development tax relief services. It’s a very exciting time to be part of the team”.

Ed Gooderham, director said: “Both myself and Nick are delighted to welcome Barrie as the newest partner at Green & Co. Barrie has been a valued member of staff for a decade and his hard work and determination has seen his career with us grow from strength to strength; this partnership was a natural step for Barrie’s progression. We are sure he will succeed and continue to provide proactive advice and help our clients minimise their tax.

Green & Co was formed in 1993, in this time they have bought and developed Pembroke House into high-quality office accommodation, with staff numbers having doubled. Over the past two years the business has increased, with Green & Co Farms and Green & Co Doctors, both enjoying impressive growth.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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Taxpayers Beware: HMRC Warn Of Further Scams


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Amongst the latest wave of scam emails and text messages, HMRC are warning taxpayers to be wary of any requests for private information.

The emails and text messages direct the recipients to a fake HMRC website which prompts them to include personal information ranging from National Insurance numbers to credit card details, all under the pretense of a tax refund. The messages appear credible, complete with HMRC logos, plausible wording and reference numbers.

HMRC confirm that they will never use texts or emails to inform people about a tax rebate, nor to ask for any personal or payment information. The message is clear: don’t give out personal or payment information, download attachments or reply to any messages if you are not 100% sure it is genuine.

For more information or to report a spam email, visit https://www.gov.uk/report-suspicious-emails-websites-phishing

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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Gwent Commercial Tenancy Forum – 26 October 2016


Following the success of our bi-monthly landlord forum, we have arranged a commercial tenancy forum for local business owners who are currently renting their commercial premises. Our aim is to keep you up to date with the latest tenancy legislation, give you the opportunity to speak to other local tenants and provide you with free access to professional and relevant advice.

Like the Gwent Landlord Forum, our Gwent Commercial Tenancy Forum will be held at The Parkway Hotel and Spa on Wednesday 28th September between 6pm and 8pm.

Speakers include:

Andy Harvie, Director of TPG Consulting Ltd

TPG Consulting Limited are a national firm of Chartered Building Surveyors and Project Managers with offices in Cardiff and Manchester.

Andy formed TPG in February 2012 after spending more than 18 years in the retail and leisure sector running building & facilities departments for blue chip organisations that provide a full range of building surveying and FM services. Andy has been a Chartered Building Surveyor since 1996 and more recently, Andy’s broad range of experience has found him providing solutions to clients with complex multi-site property requirements in the areas of refurbishment and maintenance as well as providing professional services for clients in the areas of dilapidation’s and party wall matters.

Andy will be focussing his presentation of dilapidation’s for the purpose of this particular event.

Craig Wyer, Branch Manager for Handelsbanken, Newport

Craig will be discussing the funding that banks, in general, are able offer to business owners and commercial tenants in the current economic climate.  If you have any questions along these lines, please do bring them along to be answered.


Eventbrite - Gwent Commercial Tenancy Forum


For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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Named and Shamed: The Importance of the Minimum Wage

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With last Saturday marking the beginning of the new National Minimum Wage, it has never been so important for employers to ensure they are paying their employees the correct wages.

Last month, HMRC continued its Name and Shame scheme by publishing a further 197 companies who owed a collective £465,000 in arrears. Since the Name and Shame scheme was introduced in October 2013, 687 business have been named who owed an overall £3.5million to employees.

It is an employer’s responsibility to be aware of the minimum wage rates and to ensure that all their employees are paid accordingly. Employers who pay less than the minimum wage, not only have to pay back the arrears, but also face penalties of up to £20,000 per worker, and in extreme cases can be prosecuted.

From 1st October the Minimum Wage Rates are:

£7.20 per hour – 25 yrs and over

£6.95 per hour – 21 to 24 yrs

£5.55 per hour – 18 to 20 yrs

£4.00 per hour – 16 to 17 yrs

£3.40 per hour – apprentices under 19 yrs

£3.40 per hour – apprentices over 19 yrs and in the first year

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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What is an invoice and what should it include?

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If you sell goods or services to customers, it’s likely that you’ll also have to invoice those customers for the work you’ve done. But what information are you actually required to include on your invoices?

  • You must clearly display the word ‘invoice’
  • A unique identification number
  • Your company name, address and contact information. If you are a limited company, this should be the full company name as it appears on the certificate of incorporation.
  • If you decide to put names of your directors on your invoices, you must include the names of all directors.
  • The company name and address of the customer you’re invoicing
  • A clear description of what you’re charging for
  • The date the goods or service were provided (supply date)
  • The date of the invoice
  • The amount(s) being charged
  • VAT amount if applicable
  • The total amount owed
  • VAT registration number (if applicable)

If both you and the customer are registered for VAT, invoicing is a legal requirement and copies should be kept with your books and records for at least 6 years if you’re a limited company or LLP, and 5 years if you’re a sole trader or partnership.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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Landlord forum to discuss legislative changes and holiday lets


This weeks edition of the South Wales Argus features an article on our Gwent Landlord Forum.

Cwmbran-based Green & Co Accountants and Tax Advisors, QualitySolicitors Rubin Lewis O’Brien and lettings agency SerenLiving are set to hold the latest Landlord Forum on Wednesday 28th September; hosting key speakers who will give informative talks to current and potential landlords in South Wales.

The evening, which starts from 6pm, will be held at the Parkway Hotel in Cwmbran and will feature two expert guest speakers who will present on current developments within the private lettings sector. Topics will include the legislative changes that landlords in Wales will soon be facing and holiday lets.

Due to both speakers having a lot to cover organisers have decided to keep the number of speakers at two for this event.

The first speaker will be Douglas Haig, Residential Landlord Association (RLA) Vice Chairman and Director for Wales, a private sector association who offer tailored support for landlords. Mr Haig will be discussing the upcoming legislative changes and the impact these will have on landlords.

The second speaker will be Phil Hathway of Hathway Estate Agents who will be discussing holiday lets.

Katie Williams of Green & Co Accountants said “We hope the event will be another success and that all landlords will be correctly informed on the changing legislation and the opportunities surrounding holiday lets. The forums are a great way to communicate with private landlords.

“We hope to help spread the word of bodies such as the RLA and the important service that they can offer landlords.”

Penny Jarman of QualitySolicitors Rubin Lewis O’Brien said the forum aims to build an ethos of support: “We want landlords to be as informed as possible when it comes to the continual changes in legislation and the different opportunities that are available within the rental market. We hope that through the forum all landlords are continually updated on the ever changing legal and administrative aspects of the buy-to-let market.”

Green & Co Accountants and Tax Advisors specialise in business growth and tax minimisation for businesses across Wales and the South West of England.

For proactive advice, contact Green & Co Accountants and Tax Advisors on 01633 871 122, follow @Green_and_Co on Twitter or email ed@greenandco.com.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

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