Emily Pritchard answers your burning questions relating to duty and the establishment of trusts. […]
Important Reminder – Director IDs
James Creevy, current as of: 4 August 2022.
End of Director ID Transitional Arrangements Fast Approaching
Since 5 April 2022, new directors have been required to apply for their Director ID prior to actually becoming a director. There have been transitional arrangements in place for those that became a director prior to 31 October 2021; however, the end of those transitional arrangements is fast approaching.
All existing directors must apply for their Director ID by 30 November 2022. Also, from that date, any newly appointed directors will need their Director ID prior to appointment. Failure to do so is a strict liability offence and penalties are severe. More information about deadlines and the process to obtain a Director ID can be found here or on the ABRS website.
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