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Accountancy Seminar
- 2. Agenda • Introduction • iXBRL accounts and free accounts data • E-Products & Services
- 3. Paper filings at Companies House 2009/10 182 tonnes 2013/14 117 tonnes Down 36%
- 7. How may paper accounts are left?????
- 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
- 13. iXBRL Accounts 2 Routes to the Register
- 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
- 19. iXBRL Accounts Software Filing – HOW?
- 20. Step 1 Step 2 Step 3 Obtaining Presenter ID for Software Filing
- 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
- 24. Mobile App – Company Information
- 25. Mobile App – Company Information
- 26. Mobile App – Favourites
- 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
- 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