CPDStore

June 16, 10:00

Common Pitfalls in Business Angel Investments

Speaker: Simon Briton - Simon Briton Ltd.

Over the last 5 years business angel investment has increased massively, spurred on in the last couple of years by people leaving their jobs to create their own businesses. Technology now means you can go from having an idea to having a business in 12 months.

As accountants are increasingly being called on to advise new businesses that are capital hungry, there is an increased need to be aware of the issues that come into play, whether it is a friends and family investment or a private equity investment. The aim of this session is to flag up the danger areas so that you'll be able to hear the alarm bells ringing when clients raise this in the future.

In this session Simon Briton will cover the following:

• When to raise capital and when to delay - deadlines and maximising founder value
• Interaction of SEIS and EIS - importance of timing
• Waterfalls, dilution, preferences, control and exits
• Qualifying activities and acquiring IP
• Artificial arrangements

After attending this session you'll be confident in supporting clients that are going through business angel investments. The aim of this session isn't to make you an expert in the issues, but it will mean that you're in a position to offer valuable support to your clients while they are going through this part of their business growth.

June 16, 11:05

Major Changes Coming at Companies House – How They Will Affect You & What You Need To Do

Speaker: David Impey – Company Law Solicitor

Accountants need to start preparing for 58 major changes coming to Companies House which will affect your services to your clients, your pricing and your profitability. The far-reaching changes - aimed partly at stopping UK companies being used in corruption, money laundering, fraud and identity theft - will include obligations to file more information about your clients (such as documents that verify the IDs of directors and others); the abolition of abridged and filleted accounts; a power for Companies House to query information you file; and much more. This Webinar will update you on the details we know so far, the implications for your practice and, most importantly, what you need to do about them.

In this webinar, David Impey will cover the White Paper proposals, including:

• Proposed ID verification checks on company directors and persons with significant control, LLP members, and others, and a requirement for ‘presenters’ of information to register with Companies House.
• Reduced filing options for small companies and micro-entities, abolishing abridged and filleted accounts and making digital filing of accounts in i-XBRL format mandatory.
• A new ‘statement of eligibility’ by directors of dormant companies.
• Restrictions on shortening accounting reference periods.
• New powers for Companies House to refuse to register information you file (including name changes), and to remove information already filed.
• New powers for Companies House to proactively share and cross-check data with other bodies so it can spot errors in information you file more easily.
• Restrictions on UK corporate directors and banning foreign corporate directors.
• Requiring more information from ‘persons with significant control’.
• Extending Companies House powers to ‘suppress’ personal details filed.

June 16, 12:10

Company Law and Financial Reporting - Common Queries

Speaker: Claire Thomson - OmniPro Practice Support

The contents of a set of financial statements are not only driven by the accounting framework being used, such as FRS 102; company law is bringing in more and more requirements for companies of all sizes.

In this session, Claire Thomson will look at some of the most common queries asked about company law requirements when it comes to financial statements. They also look at some of the simple mistakes that directors make, which can lead to financial statements being rejected by Companies House.

In this session Claire will cover the following:

• A recap on company size thresholds under the Companies Act 2006
• Five common queries on company law and financial reporting
• Five simple mistakes to avoid in finalising your financial statements