Companies House is the vehicle through which businesses, accountants and other professional advisors file various information, which is then made publicly available. It’s an organisation that deals with volume and there are various performance metrics in place.
Its most recent business plan encompasses objectives similar to those that you might expect to see in your own business:
- Providing excellence in company registration and search
- Helping companies to ensure their recorded information is current, complete and correct
- Building a high-performance culture by adapting to and embracing change.
I’m not sure I’ve ever considered Companies House to be a business. It’s just been a place where certain documents must be filed, where I can access publicly available information and where I can do some research on businesses that I would like to work with. The above certainly changes my view on this and the business plan certainly supports a move into current times. We need an efficient delivery model that is easy to engage with and reduces the administrative burden, wherever possible, for businesses.
The introduction of the confirmation statement last year, which replaced the annual return, is one way in which filings have changed. Online filing has evolved considerably in recent years, resulting in less paperwork and postage costs. The aim for 2017 is to achieve a take-up of 87% of digital filing services. There is also a focus now on increasing the number of accounts to be filed digitally – the aim being 99% to be filed online. This is a far cry from arranging a courier at the last minute to get down to Cardiff in order to meet a filing deadline. It will still need some planning to ensure deadlines are met (hopefully not at the last minute to save everyone the unnecessary stress) but hopefully the push towards digital will be a positive move for all users.
Pauline Rigby, a partner in Corporate and Restructuring at Forbes Solicitors, commented “Companies House has since 2014 been working on its strategy. At that time they prepared a 5 year plan. Very similar to other businesses, 3 years into that plan and Companies House have taken time to reflect on what they’ve achieved and how their strategy needs to be amended to move them further forwards to ensure that their strategy reflects wider changes in society. Online filing and accessibility has to be key as well as retaining a fluid strategy just like any other business.”
If you have any queries on changes in what should be filed and when and how, then please do get in touch with Anne Ramsden by email at email@example.com or by calling 01254 679131.