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Brexit: Corporate

Overview

Whilst the Companies Act 2006 and the raft of secondary legislation made under it have been heavily influenced by various European Directives (notably the Company Law Directives and Accounting Directives and the Shareholder Rights Directive), Brexit will have little immediate impact on company law. There may be some attempt post-Brexit to remove any unnecessary burdens on business which were previously derived from European Directives. However, given the history of the Companies Acts in the UK, and the extensive consultation process which gave rise to the Companies Act 2006 itself, the key features of company law, including the types of companies which can be incorporated, the role of Companies House as Registrar, directors' duties and shareholder remedies, and the rules on accounts and audit are expected to remain generally the same.

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