Move to Digital
“The end of paper filing”, and “be pro-active, 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 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 digitally.
However, some concerns remain about the efficacy and increasing complexity of Companies House systems.
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 benefits:
• 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 filing penalties.
• 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 assistance, or are unsure about making the change yourself, Avanti can help, offering advice and assistance. Regulated by AAT, 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. Avanti’s team are 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.
Contact us for further details or if we can be of assistance in any way.