Inform Direct product update – December 2020

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Alongside the upcoming micro-entity accounts functionality, we’ve been making some system improvements that have now been released.

Thank you to everyone who provides feedback and suggestions, as this update contains requests made by you.

The enhancements largely focus on the ‘share’ related processes, and there are many improvements, spanning:

  • Additional new features
  • Usability enhancements
  • Improvements to existing processes
  • Performance enhancements and fixes

Here are some of the bigger changes you’ll notice.

Produce attractive share certificates

Inform Direct makes maintaining share certificates a breeze and has a variety of share certificate designs to choose from.

See our designs

New share certificates

We’ve added three new share certificate styles for you to choose from:

 

ShareCertTemplates

These can be selected when forming a new company or when creating new share certificates.

Confirmation statement – full shareholders list

Confirmation statements should not include a full list of shareholders unless there has been a change to the shareholders in the period of the confirmation statement. However, we are often asked to include one by customers.

There are a few reasons for this, the main ones being:

  • A bank has requested that you do this
  • You are correcting for a prior mistake

So, you’ll now be able to choose to include a full shareholder list in the confirmation statement, where one wouldn’t otherwise be sent. This option has been added to the submission step of the confirmation statement process.

CSFullShareholderList

Updates to the share options processes

Following the release of the share option functionality this year we received requests to capture some extra information. You’ll now find the following additions:

  • HMRC registration number – can now be recorded for share option schemes
  • Market value per share at date of grant – can now be recorded when granting options
  • Requirements to be met before exercise – can now be recorded when granting options

The ‘Market value per share at date of grant’ and ‘Requirements to be met before exercise’ are also included in the existing ‘Option holders’ report.

Share classes report

Inform Direct users have requested a report that shows the details of the share classes of all their companies. So, this is exactly what we have done.

 

ShareClassReport

You’ll find it in the ‘Reports’ section of the ‘Documents & Templates’ area.

Share reorganisations

Where share reorganisations require forms to be sent to Companies House (as they do not accept straight through electronic filings for these changes yet), a notification will now be generated on the company’s dashboard as a reminder of the forms that need to be sent.  These forms need to be sent either in the post or, where allowed, using Companies House’s document upload process.

Additionally, where a reorganisation is performed to reconcile the shareholdings in Inform Direct with the share class records at Companies House, the Companies House forms and other supporting documents can now be generated in case they are needed.

Editing the imported share transaction date and amount paid

It is now possible to amend the imported shareholding date and amount paid from the share transaction screen.

 

edittransaction

Amending these will allow you to:

  • Enter missing share changes to each shareholding imported from Companies House
  • Record the correct amount paid for the shareholdings at import

Registered office service – point of contact

When forming a company using Inform Direct and you have selected one of the address services you can now specify who should be contacted to finalise setting up the service.

This is in the delivery step of the incorporation process. If you don’t want this to be you, you can either select the details of someone already entered in the incorporation or enter a new contact name and email address.

IncorpEnterOwnAddressContact

These details will then be sent to the provider of the address services as the point of contact.

Other smaller improvements

This release contains many other improvements too:

  • Increase to the maximum number of shares that can be allotted in the multiple allotment process
  • Rounding improvement to the ‘Total consideration’ in the share allotment process
  • Call payment date ordering on the share transaction screen
  • Now able to select all companies as ‘No Access’ in the user’s company access screen with one overarching radio button
  • ‘Options exercisable from date’ is no longer mandatory in the share options process
  • and many more….

Let us know what would help you

Please do contact us and let us know any features or changes that would help with your company secretarial work. We are constantly working to improve Inform Direct and your feedback is an important part of that.


Form companies through Inform Direct

We make forming companies as an agent, or a direct customer easy. Just check the company name desired is available, and follow our easy process.

Check company name

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