"The Writing's on the wall for paper filing", and
"Don't get left behind, file online", are the
messages coming out of Companies House in their current campaign to
promote their digital services to accountants and encourage them to
file their accounts online. Companies House has declared its
intentions to become a 100% digital organisation by the end of
2018/19 in order to increase efficiency and cut costs, in line with
other government agencies.
Currently over 80% of companies file their documents digitally,
with Companies House estimating that key transactions, such as
annual returns and incorporations, are almost all submitted
However, their research has shown some resistance to change from
paper to digital. There are a number of reasons for this - changing
processes that have been in place for a long time and work well
seems unnecessary, low priority and the cost of accounts
preparation software can be difficult to justify.
However, Companies House are hoping to ease these concerns and
promote the many benefits to online filing, believing it to be the
better approach for all UK filers, across all companies, large and
small. There are many advantages with online filing; primarily the
security, speed, acknowledgement and automatic confirmation makes
it the best choice.
In its push to encourage all companies to move over to online
for all communications, the agency is highlighting some key
most online documents are processed
within 24 hours, and delivery is faster and more secure, along with
no postage costs, no need for covering letters, automatic
confirmation of acceptance and rejection and reduced risk of late
online filing also features built-in
checks to help avoid errors, and the possibility of rejection. When
it receives a document filed online, an acknowledgement is sent
almost immediately, followed by confirmation once the document has
been accepted. If an item is rejected, the applicant can then
correct and resubmit it.
If you still need convincing, or are unsure about making the
Jordans Accounting Services can help, offering advice and
assistance. Regulated by ICAEW, we are a team of experienced
accountants who can help with your statutory accounts as well as
any tax matters you may need assistance with.
Over the coming year, there will be a new UKGAAP (UK Generally
Accepted Accounting Practice) which may substantially change the
layout of your accounts that should be submitted to Companies
House. Jordans Accounting Services team is fully trained in the new
requirements, so we can take this burden off your hands, giving you
complete peace of mind, knowing your accounts will be accurate and
filed in a timely manner.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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