Is Corporate Structure Simplification (CSS) Essential for UK Businesses?
Eddie Bines, Director in the Restructuring Advisory practice at Duff & Phelps, was featured in an article in Accountancy Age titled, “Is Corporate Structure Simplification (CSS) Essential for UK Businesses?” The article discusses the many ways businesses can benefit from implementing a CSS initiative to streamline their corporate group structure. CSS helps to eliminate unnecessary entities, reduces financial and administrative burden and promotes transparency, all which can improve attractiveness to potential buyers, investment groups and other stakeholders.
“We estimate that the average dormant entity costs approximately £10,000 per annum in direct and indirect costs to maintain. An active one can cost upward of £100,000, as a result of the costs associated with the tax compliance, audit, and company secretarial burden, as well as other time-consuming administrative tasks associated with accounting, compliance, and regulatory reporting,” Eddie explained.
Read the full article here.
