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Trading Disclosures

Contents

1. What trading information is a company required to disclose?

This depends on where the information will appear and is summarised in the table below: 

Where disclosure to be made Type of disclosure to be made

Box 1

  • Business letters
  • Order forms
  • Websites

Box 2

  • Registered name
  • Place of registration (e.g. Scotland)
  • Registered number
  • Address of registered office
  • If exempt from having "limited" as part of name, disclose it is a limited company
  • If a private community interest company, disclose this fact
  • If an investment company, disclose this fact
  • If there is reference to share capital, this must be a reference to paid-up share capital

Box 3

  • Notices & official publications
  • Bills of exchange
  • Promissory notes
  • Endorsements
  • Cheques
  • Orders for money, goods or services
  • Bills of parcels
  • Invoices & demands for payment
  • Receipts
  • Letters of credit
  • Applications for licences to carry on a trade or activity
  • All other forms of business correspondence/documentation (but for business letters/order forms see Box 2)
  • Signs at premises
 Box 4

       Registered name

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2. Is an email a business letter?

The content of a communication determines whether it is a business letter, not whether it is in hard copy or electronic form.

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3. What do I put on my company's emails?

See Question 1, above.

If  your email constitutes a business letter/order form, make the disclosures in Box 2. If your email constitutes any document in Box 3, disclose the registered name.


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4. What do I put on business cards?

See Question 1, above.

If used as business correspondence/documentation, disclose the registered name.

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5. What do I put on compliments slips?

See Question 1, above.

If the slip constitutes a business letter, make the disclosure in Box 2. Otherwise disclose the registered name.

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6. Do I have to put my VAT numbers and details on documents and websites?

This is not required by the Companies Act 2006. You may want to check the point with HM Revenue & Customs.

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7. My business is made up of a number of subsidiary companies. Do I have to put the details of all subsidiaries on all websites?

The details of every company that has authorised its inclusion on the website must be included on the site. 

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8. Do I have to put the required details on every page of my website?

No, but the details should be displayed so that they can be easily read.

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9. What are the consequences of non-compliance?

If you do not comply you and your company commit an offence and could be subject to a fine. The current fine (June 2008) is up to £1,000.

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10. Who enforces the trading disclosure requirements?

Companies House and local Trading Standards officers.

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11. Will there be further amendments to the Trading Disclosures Regulations?

Yes. The Companies (Trading Disclosures) (Amendment) Regulations 2008 will come into force on 1 October 2009 (subject to their approval by Parliament). These will provide for two further exemptions from the requirement for signs displaying the company’s registered name at company premises.

First, signs will no longer be required at premises (which are not the registered office or the place for inspection of records) of a company whose activities are likely to attract violent objections.

Second, if a company's registered office, place for inspection of company records or place of business is moved to the premises of a liquidator, administrator or administrative receiver who has been appointed to the company, then a sign will not have to be displayed at those premises (i.e. of the liquidator, administrator or administrative receiver).

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12. When will the Trading Disclosure Amendment Regulations come into force?

The Amendment Regulations will come into force on 1 October 2009. The draft of the Regulations which has been laid before Parliament is available at www.opsi.gov.uk.

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13. What sign must be displayed?

At present, a sign with the company’s registered name must be displayed:

  • at the company’s registered office and any place where its records are kept available for inspection unless the company has been dormant at all times since its incorporation; and
  • At any other place where it carries on business unless the place is primarily used for living accommodation.

Draft Regulations before Parliament provide for 2 further exemptions.

  • From the requirement for a sign at the company’s registered office and any place where its records are kept available for inspection, if this place is moved to the premises of a liquidator, administrator or administrative receiver who has been appointed to the company; or
  • From the requirement for a sign at any premises except the company’s registered office and any place where its records are kept available for inspection, if the company’s activities are likely to attract violent objections.

These further exemptions will come into force on 1 October 2009, subject to approval of the draft Regulations by Parliament. 

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14. Where should the sign be displayed when a company shares a building with several others?

The sign must be positioned so that it may be easily seen by any visitor to the company's premises . It must be able to be seen at any time, ie not only during business hours. Where the company shares its premises with five or more other companies, each company is only required to display its registered name for at least fifteen continuous seconds at least once in every three minutes.

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15. Where should the sign be displayed when the company's premises, eg a shop, has several entrances?

The Regulations do not require the sign to be displayed at any particular place; it must be positioned so that it may be easily seen by any visitor to the company's premises. It must be able to be seen at any time, ie not only during business hours.

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