ARTICLE · 01 APRIL 2008

UK GAAP - Companies Act 2006 Update

Smith & Williamson

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As discussed in previous Financial Reporting newsletters, while the Companies Act 2006 (the Act) received Royal Assent on 8 November 2006, many of its provisions are yet to be enacted.

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Several provisions of the Companies Act 2006 have been delayed by a year and will now not be enacted until October 2009.

As discussed in previous Financial Reporting newsletters, while the Companies Act 2006 (the Act) received Royal Assent on 8 November 2006, many of its provisions are yet to be enacted. Late changes to previously announced implementation timetables make determining when the various provisions will come into effect even more difficult. In addition, the close links between company legislation and that applicable to limited liability partnerships (LLPs) mean that there will also need to be changes to LLP legislation.

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