Britain's single largest piece of legislation, the
Companies Act 2006, has been phased in over the last four years. The latest change came in on 1 October.
The change means that all UK companies now need have at least one human "natural person" as a director.
In other words, a board cannot be solely made up corporates as directors. Previously, it was quite legal to have a parent company as the only director of a subsidiary company.
If your business is in the situation of now needing a human as a director, you need to be aware that if you don't comply you risk a £5,000 fine plus an additional daily fine for continued non-compliance.
Furthermore, not having at least one natural director will make it difficult to file your annual accounts with Companies House.
Read more on Salesforce Management