Trust or Company Service Providers (TCSPS): How do recruitment agencies and firms providing outsourced executives operate?
Recruitment agencies advertise their services on the internet and in the press. Although recruitment agencies are often thought of as being suppliers of temporary employees in the secretarial, catering and low skilled manufacturing industries, many of them recruit at company secretary and director level. Headhunting firms exist to try and place key personnel at managerial and director level in their clients business. They earn a fee for locating and placing a suitable recruit.
Research has found that a number of firms advertise the supply of a Company Secretarial service for clients on the internet. To comply with the Companies Act 2006 all companies in the UK must have a company secretary appointed and shown on the registration documents that are filed at Companies House. For small companies consisting of just a single person, who perhaps does not want to involve a relative or friend in the running of the company, the use of an outsourced company secretary for an annual fee may be an attractive option. The company secretary will carry out the statutory functions that come with the role ensuring that the business complies with the Companies Act with regard to filing of annual returns. Internet searches did not find any websites offering outsourced director or partner services other than those acting in a nominee capacity for which separate guidance is given at MLR3C10510.