Company registers are mandatory and should be kept up to date and be available for inspection.
Although many small companies and their advisers neglect the maintenance of the statutory company register it is advantageous to keep it up to date and check it at least once a year.
Aside from the basic legal obligation within the Companies Act to maintain the register there are practical benefits such as:-
- verification of dates
- corroboration of transactions
- confirmation of shareholdings
- confirmation of appointments
- it may be required by HM Revenue
- it could be required as evidence in court
- it is a safe place to keep minutes of meetings
- it records changes made to memorandum & articles
It is much easier to make a written record at the time than trying to remember several years after the event - in any case, if you are a being paid to maintain the company register on behalf of others you may face a negligence claim!
We have a comprehensive selection of company registers, including soft back registers, hard back registers, loose leaf registers, as well as Vectis interactive electronic register software.