The document discusses Companies House's efforts to promote electronic filing of company accounts and reduce paper filings. It notes that paper filings have decreased 36% from 182 tonnes in 2009/10 to 117 tonnes in 2013/14. It promotes the benefits of filing electronically using iXBRL format, which allows automated checking and makes the accounts data accessible and searchable. iXBRL filing is now used for 2/3 of all accounts filed with Companies House. The document also describes Companies House's mobile app, eReminder service, and other digital services and tools available to users.
8. Only 28% of these were paper (March)
69% of all paper accounts filed in March
644k paper compared to 1.4 million electronic 2013-14
Small company unaudited
abbreviated and dormant
accounts:
• 86% of all accounts filed
during 2013-14
• Dormant 434k
• Small abbrev 1,581k
• Total accounts 2,348k
9. iXBRL Format – Readable and Data
Accs Prep File iXBRL Public Record
Transform Transmit &
Transform
XBRL
Data
14. iXBRL Accounts – WHAT can you file?
WebFiling Templates:
(fixed format and manual
data input)
• Dormant never traded
• Abbreviated unaudited for
micros and small companies
• Full unaudited via
HMRC/CH joint filing
15. iXBRL Accounts – WHAT can you file?
Software Filing:
(free format and automatic
production) :
• Dormant never traded
• Abbreviated unaudited for
micros and small companies
• Full unaudited micros and
small companies
• Full audited
• Dormant previously traded
• Group
WebFiling Templates:
(fixed format and manual
data input)
• Dormant never traded
• Abbreviated unaudited for
micros and small companies
• Full unaudited via
HMRC/CH joint filing
16. iXBRL Accounts filing – WHY?
BETTER FOR YOU:
Cost savings:
- No more covering letters or
postage costs
Lower overheads:
- Immediate acknowledgment
of receipt
- Automatic confirmation of
acceptance/ rejection
17. iXBRL Accounts filing – WHY?
BETTER FOR CLIENTS:
Faster, secure delivery
Lower risk of penalties
Transparency - Accounts
data e.g. credit reference
agencies
Preferred by professional
accountancy bodies and
BIPA
BETTER FOR YOU:
Cost savings:
- No more covering letters or
postage costs
Lower overheads:
- Immediate acknowledgment
of receipt
- Automatic confirmation of
acceptance/ rejection
18. iXBRL Accounts filing – WHY?
BETTER FOR CLIENTS:
Faster, secure delivery
Less risk of penalties
New - Accounts data for
credit reference agencies
Preferred by professional
accountancy bodies
Better for you:
Cost savings:
- No more covering letters or
postage costs
Lower overheads:
- Immediate acknowledgment
of receipt
- Automatic confirmation of
acceptance/ rejection 2/3 of all accounts are now
iXBRL
23. Mobile App
• Launched in September 2012 – over 100,000 downloads
• Access to company details for over 3 million companies
• Available to download from the Apple App Store and Google
Play
• Free to download and provides only free information – no
hidden costs
• Allows you to check company information ‘on the go’
• Stats and our latest Tweets can also be viewed on the App
• Feedback welcome
27. Join eReminders:
eReminders is FREE
You can activate up to 4 email
addresses per company
Avoid the inconvenience and
expense of failing to file
your documents on time
Would you like us to email you
when the company accounts and annual
returns are due?
28. PROOF (PROtected Online Filing)
is FREE and offers protection for your company (or
LLP) from fraudsters and corporate identity
theft.
PROOF helps prevent...
attempts to change your registered office
address or directors of your company without
your knowledge.
PROOF ensures...
changes to your company record are only made
online and paper filings are rejected. Approx
50-100 cases of corporate identity fraud per
month.
ACCOUNTS ARE NOT INCLUDED IN PROOF
Fraudsters come in all shapes and sizes
We have PROOF
29. Monitor
• FREE Service available in CHD &
WebCHeck
• Part of the 3 point plan to prevent
corporate identity fraud
• Alert service for documents filed by
ANY company
30.
31. The Companies House Service
• Transforms our electronic services, with modern
technology and a new web service.
• Better and simpler for customers, making it easier to
view and update company information.
35. Thank you for listening!
Any Feedback?
sthomas1@companieshouse.gov.uk
jmansfield@companieshouse.gov.uk
36. Contact us
Telephone: 0303 1234 500
email: enquiries@companieshouse.gov.uk
RSS feeds: www.companieshouse.gov.uk
Follow us: Facebook
Twitter
LinkedIn
Companies House You Tube Channel
Editor's Notes
Go through the Agenda and use of amenities, fire drill etc etc
This is an example of how the Register has grown since the 60’s where the register size was around 300,000 we now have 3.25 million companies on the register – up 30% since 2010.
Roughly 530,000 companies were incorporated last year, with around 316,000 being removed or dissolved.
These are the take up figures for electronic filing, as you can see 98% of Annual Returns are filed electronically.
Accounts are the lowest percentage of electronically filed docs. (nearly 60% in 2013/14 ) – this is the main focus of today’s presentation
The example on screen shows the transition of the accounts using the electronic process.
Firstly the accounts prepared, this maybe using an accounting package, the software will transform the accounts in IXBRL using the UKGAAP standard tagging.
Your software may do this already.
Or you may have to use another to convert into IXBRL
This can then be sent to Companies House either directly using your accounting package or again using a suitable software which enables the upload of iXBRL.
Once the information is received its then available on the public record for searchers who can benefit from the use of iXBRL
you then enter the company number you wish to register and we will send you a company authentication code which will be posted 1st class to the company’s Registered Office Address.
You should register for the service as soon as possible so that the process doesn’t stop you from filing on time, although we send the Authentication code immediately it can take a couple of days if it were to get clogged up in postal services.
We have testimonials on our website from accountants who have filed using iXBRL. If you get the opportunity you may wish to see how these other accountants have benefited from it’s use.
We also have an article from the Institute of Chartered Accountants in England & Wales explaining the benefits of filing iXBRL through accounts production software. The article is on our website.
Reflects our other services, such as WebCHeck
Search by Company name or number
*Add slide – company info with ‘faves’ star.*
Who would like us to email them when the Annual Return and Accounts are due?
We can also email your clients at the same time.
The eReminders service allows the company to sign up 4 email addresses, who will each receive an email when the accounts and annual return are due.
This alternative to a paper reminder has proven successful, as our statistics have shown that the compliance rate for customers who have signed up to eReminders is much higher than those who still receive a paper reminder. Which is XX%
Over 44% of active companies on the register have opted into our PROtected Online Filing (PROOF) scheme.
You may have seen our recent campaign encouraging customers to sign up FREE through our WebFiling service. When you log in to WebFiling at the top of the company overview screen you can sign the company up.
Once a company has signed up to PROOF it will only allow the filing of the following documents electronically not on paper, such as:
the Registered office address
Officer appointments, terminations or changes
and Annual return
We investigate approximately 50-100 cases of corporate identity theft every month.
Monitor is a service available to users of both CHD and WebCHeck.
Along with WebFiling and Proof, Monitor helps to make up the 3 point plan to prevent corporate identity fraud. You have already been told about the security benefits of WebFiling and Proof so here is some information about Monitor
Monitor is way of keeping a check on information that is being sent to Companies House. It can be used to monitor your own company or that of a customer, supplier or competitor.
If you are looking to keep an eye on all the activity of your company this service is perfect as you will receive an alert whenever a document has been received by Companies House. If you choose to monitor all documents you will know when a potential fraudulent document has been sent in. Also it will give you peace of mind that your accounts are received by Companies House on time so that you won’t incur a penalty.
If you are looking to do business with a company and you are keen to see their most up to date set of accounts then you can be alerted the second they are on our system.
The cost for this service is 50p to monitor a company for a 12 month period. This fee stays the same whether you are monitoring 1 document or all documents. Should you choose to act on the alerts you will have to pay for the information that you download and payment will be made in accordance with the service you are using.
If in doubt please take note of our contact telephone number and email contact for general enquiries