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Accountants Event Presentation
- 2. Agenda • E-Products & Services • Accounts: Data & Electronic filing update
- 4. 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
- 5. Mobile App – Company Information
- 6. Mobile App – Company Information
- 7. Mobile App – Favourites
- 8. 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?
- 9. 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
- 10. 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
- 13. Company Accounts – Background Copy of accounts prepared for shareholders or Abbreviated accounts depending on size of company File electronically – voluntary regime In-line XBRL Approx 2/3 now file iXBRL Accounts production software Accounting firms
- 14. iXBRL Accounts 2 Routes to the Register
- 15. iXBRL Accounts Software Filing – HOW?
- 16. iXBRL Format – Readable and Data Accs Prep File iXBRL Public Record Transform Transmit & Transform XBRL Data
- 17. Why an accounts data product? … – Journey to becoming a digital organisation – Digital in, digital out – Increasing volume of accounts data – Demand for access to that data
- 20. Free Bulk Accounts Data Service Prod223_1259_00128874_20140531.html
- 25. Paper filings at Companies House 2009/10 182 tonnes 2013/14 117 tonnes Down 36%
- 27. Accounts Year to March '14 Volumes in '000 601 26% 692 29% 103 4% 951 41% 2,347 100% Software Web HMRC Paper
- 28. Paper Accounts Filed '000 514 54% 130 14% 307 32% Abbrev Dormant Other
- 29. 2/3 of all accounts now electronic
- 30. 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
- 31. 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
- 32. 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
- 33. 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
- 34. 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 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 2/3 of all accounts are now iXBRL
- 35. Step 1 Step 2 Step 3 Obtaining Presenter ID for Software Filing
- 38. Thank you for listening! Any Feedback? phughes@companieshouse.gov.uk jmansfield@companieshouse.gov.uk
- 39. 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 the Companies House Website. Most of you are familiar with our website. However there is a lot of valuable information available to you, ie up-to-date alerts to keep you informed of any current issues or changes to our services. You can access webfiling to file documents electronically. Find information through our WebCHeck or CHD service. Watch demo’s on how to file documents to Companies House. You can get access to our FREE Events CALENDER to see where we will be holding events in the coming months.
- We have taken our services to the next level by launching a mobile app, which provides free information on the go. Already we have had over 1000,000 downloads. The App is accessible on Apple and Android platforms and it is free to download from either the App Store or Google play. The only information that you will be able to get currently is the free information that we hold. The App has a stats section that allows you to compile statistics about the number of companies incorporated or dissolved in any time frame that you choose. You can also view the most recent Tweets broadcast by CH. Feedback on the app is always welcome and within the Apple and Android version there is a feedback section that you can complete. There have been a number of changes made to the App based on feedback that we have received. Out of interest has anyone downloaded the app?
- The APP Reflects our other services, such as WebCHeck and CHD You can search by Company name or number
- Here’s an example of the free information returned from the search. Ro address Dates of latest AR and accounts filed .
- You can save Companies that you check on a regular basis to your favourites. These can be sorted and stored either by CO Name, Company Number, Accounts or AR due date If you file on behalf of clients it could be an advantage to sort by the Accounts due date. If a document has not been filed an Amber Alert is placed on a company around 14 days prior to the due date of the documen A red alert is placed on a company when the Accounts or AR is overdue.
- 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. Accounts reminder is sent to the company 42 days before the due date. AR Reminder sent on Made-Up-Date of AR. If AR not filed another reminder is sent 2 days before the made-up-date
- 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 to officers addresses and Annual return However Accounts will still be accepted on paper. 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. This service is Free of charge. 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.
- This is an example of a Company monitor screen that will allow you to choose the documents you would like to Monitor you can select one or all documents.
- 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.
- If in doubt please take note of our contact telephone number and email contact for general enquiries