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Companies House Presentation July 2014


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Companies House Presentation July 2014

  1. 1. Tanya Peake Companies House
  2. 2. Agenda • Welcome • Companies House – Who are we? • The Limited Company and the Companies Act 2006 • Incorporating with Companies House • How to file your information online • Our information services • Key conclusions • Information & Demo Points
  3. 3. Who we are
  4. 4. All Company types • Private Limited Companies • Public Limited Companies (PLC’s) • Dormant Companies • Limited Liability Partnerships • Community Interest Companies • Micro-Entities
  5. 5. What we do
  6. 6. How we do it
  7. 7. Why we do it ‘the heart of company information in the UK, recording the life events of companies for ALL to see’ • A world class information exchange • Accessible, easy to use • Creating excellent customer experiences • Providing trusted information
  8. 8. Why become a limited company? • The company name is protected • Limited liability status Limited liability • Is where the liability of the members is limited by shares or by guarantee • In return the company must send certain information to Companies House for public viewing
  9. 9. Incorporation
  10. 10. Company name • Unique • It is not offensive • Sensitive words • Company names adjudicator • Company Names Tribunal for ‘opportunistic registrations
  11. 11. Director & secretary responsibilities
  12. 12. Director’s responsibilities • Accounts and Annual Returns are delivered • Registered office and SAIL address is correct and operational • Directors’ and secretaries’ details are kept up to date • No under 16’s appointed (except for LLP’s) • No upper age limit • At least 1 “natural person” appointed (except for LLP’s)
  13. 13. WebFiling
  14. 14. Keep your code safe • Make sure your code isn’t easily guessable • Mix letters with numbers in your code • Only share your code with trusted company personnel • Change your code if company personnel changes • Change your code if you think the code has been discovered • Tell your agent before you change your code • Use a different code for each company • Don’t leave your code lying around
  15. 15. Single Alternative Inspection Location Or known as “SAIL” applies if:- • Your company records & registers are not kept for inspection at the registered office address • Only one SAIL address allowed • Address notification required • Records & registers at the address required • Also notified on annual return
  16. 16. Trading disclosures Company name to be displayed at: • All places of business • Registered office address But does not apply to: • Primarily residential addresses • Dormant companies
  17. 17. Trading disclosures All items of business stationery & communications including emails and company website must show: • Company name • Place of registration • Registered number • Registered office address • Director information • If being wound up, that fact
  18. 18. Directors service addresses • Based on privacy • Any address (not P.O.) for the public register • Usual residential address for protected register • Change notice can be completed online • Historic addresses can be “expunged” for at risk officers
  19. 19. Annual Return • Not the financial return • All companies have to file one each year • Based on your Legal Return Date • Snapshot of the company details at this date • Must be filed within 28 days of this date • £13 filing fee online (£40 for paper filing) • Over 98% are now filed online
  20. 20. Accounts • Some Account types can be filed online • Companies have to file accounts each year • Whether trading or not • Strict filing times laid down by Parliament • Based on your accounting reference date • Automatic penalties for being late • No filing fee
  21. 21. Government Gateway Credentials HMRC Template Download CH WebFiling Small Full or Abbreviated Accounts - Input Once Only Select Box to Send to Appropriate Organisation HMRC Accounts Filed and Corporation Tax Filed Companies House Accounts Filed Joint filing
  22. 22. Joint filing benefits • Meet two legislative obligations in one go • Both organisations using iXBRL • Full accounts can be filed (extract abbreviated versions) • Built in intelligence and calculations • Templates can be worked offline • Latest FRSSE statements • Email confirmation
  23. 23. Accounts filing periods Private Co - 9 months from the accounting reference date Public Co - 6 months from the accounting reference date
  24. 24. Late Filing Penalties • Accounts only • Introduced 1 July 1992 and amended 1 February 2009 • Civil Penalty against the company • Accounts must be received by Registrar by due date • Penalties are doubled for filing late 2 years running • Appeals procedure • Registrar has very limited discretion not to collect a penalty
  25. 25. Late Filing Penalties Don’t forget… Penalties are doubled for filing late 2 years running Length of Period Public Company Private Company Not more than 1 month £750 £150 More than 1 month but not more than 3 months £1,500 £375 More than 3 months but not more than 6 months £3,000 £750 More than 6 months £7,500 £1,500
  26. 26. Surprising Statistic
  27. 27. Don’t hide behind your advisors
  28. 28. Compliance
  29. 29. Prosecution
  30. 30. Dissolution and voluntary strike-off • Straightforward procedure • Company not traded or changed name in last 3 months • Form DS01must be completed • Majority of directors must authorise application • £10 fee to pay • Can take 6 months and is subject to third party objections • DS02/LLDS02 withdrawal of application to strike off • Reversible process via Restoration process
  31. 31. WebFiling and PROOF scheme • PROtected Online Filing - PROOF • Stops the filing of certain paper forms i.e. :- Company officers appointments / Terminations / Changes Change of the registered office Annual Return NOTE: Accounts are not included in the scheme • Paper forms are rejected and sent to the registered office address • 50-100 Corporate identity fraud cases per month
  32. 32. Join eReminders for: • A timely email reminder of when your accounts and annual returns are due at Companies House. • The option of a maximum of 4 email addresses per company. • An alternative to paper reminder letters sent to your registered office address WebFiling and eReminders
  33. 33. Searching
  34. 34. Mobile App
  35. 35. Mobile App • Mobile app is FREE and available for Apple and Android • Available to download from Apple App Store or Google Play • Only free information is available on this service – no hidden costs • Allows you to check company information ‘on the go’ • Stats and our latest Tweets can be viewed on the App • Feedback is welcome
  36. 36. Mobile App • Save most frequently viewed companies in your ‘Favourites’ for Amber / Red Alerts when AR and AA are due / overdue • Variety of sort options in favourites – including company name, number or when accounts or returns are next due for filing
  37. 37. WebCHeck & Companies House Direct WebCHeck •No subscription •Pay as you go •Company name availability search •Detailed filing history •Free current appointments report •Disqualified director search •Document download area •Monitor service Companies House Direct •Monthly subscription •Monthly invoice •Company search •Officer enquiry •Disqualified directors search •Document packages •Insolvency history •Full filing history •Certified document ordering •Document download area •Monitor service
  38. 38. Monitor • FREE Service available via CHD and WebCHeck • Part of the 3-point-plan to prevent corporate identity fraud • Email alert service for documents filed by ANY company
  39. 39. 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
  40. 40. Companies House Service
  41. 41. Other products • Uniform Resource Identifiers (URI) • Free Company Data Product • Free Accounts Data Product • XML Gateway • DVD Rom • Bespoke Products
  42. 42. Coming soon • Free digital data from Q2 2015
  43. 43. Key conclusions • Think “e” – and enjoy the benefits now • Filing online saves you time • Meeting filing deadlines saves you penalties • Up-to-date records create confidence in your company • Our Information online can help you • Companies House is here to help you Web:
  44. 44. Online user panel • Help us understand how you use our online services • Your Feedback and Your experiences • Details on our website
  45. 45. Contact us Telephone: 0303 1234 500 email: RSS feeds: Follow us: Facebook: Twitter: @CompaniesHouse LinkedIn Companies House You Tube Channel
  46. 46. Thank you for listening! Any feedback?