Latest Companies House Presentation - Nov 2014

Editor's Notes

• #2: Testing
• #3: Hello and welcome to the Companies House networking and information seminar. Before we start I would like to cover off the domestics. Toilets are……………………….. Fire drill……………………… Mobile phones
• #4: UK Registry of Companies 1844 - Established 1988 - Executive agency of BIS 1991 - Trading fund. This means that we receive no funding from Government and what we charge is what it takes to keep the organisation running. Funding: 80% registration, 20% search The Registrar of Companies for England and Wales, and Chief Executive of Companies House is Tim Moss. His office is based at Companies House in Cardiff. The Registrar of Companies for Scotland is Dorothy Blair and her office is based in Edinburgh. The Registrar of Companies for Northern Ireland is Helen Shilliday and her office is based in Belfast. There is also an Information Centre in Abbey Orchard Street, London. Companies House has around 900 staff working across the four offices. Our turnover is around £60 million
• #5: The main functions of Companies House are to: Incorporate Limited Companies Receive updates to Companies Information and dissolve limited companies; We then make all this information accessible to the public via a multitude of services.
• #6: How do we do this? We get information coming into us from three main sources. There is software filing. Some of you may use a 3rd party or 3rd party software to submit information to us. Others might use our WebFiling service and others might still be using our paper forms. All of this information comes into us and runs either directly through our e services or is dealt with manually and input into our e services, this all culminates in creating the public register.
• #7: So why do we do this? Why does Companies House exist. We aim to be the heart of company information in the UK by recording the life events of companies for ALL to see. It is a fact that we are a world class information exchange we are ranked………………………. In the list of worldwide registires. We pride ourselves on our services being both easily accessible and easy to use. We strive to ensure that all our customers have an excellent experience when dealing with us and we also want to ensure that we are providing trusted information. At Companies House we accept all information in good faith. We have taken some steps to ensure the integrity of the register but there is more that can be done. We have recently set up an integrity team who will be looking at way in which we can make sure that what we receive is accurate. One step that has recently been taken is the introduction in June to perform checks on undischarched bankrups. This means that checks will be made against directors appointments to ensure that they aren’t listed as bankrupt or subject to personal insolvency restrictions.
• #8: This screen. Now some of you may be familiar with this screen as I know that there are some of you in the audience today who do currently WebFile but in the interest of those who have yet to use this service I am going to quickly skim over the registration process. So, it might not be immediately obvious where you would need to go to register for the WebFiling service. If you look in the top left hand corner you will see the word register. Once you click here you are taken to the next screen.
• #9: To this screen where you will have supply us with your email address and create your own password. Please note that there are rules around the password and these are that the password must consist of between 8 and 32 alphanumeric numeric characters, containing at least 2 numbers. You go through the usual process of filling out both pieces of information twice and then decided wether or not you wish to opt in to our mailing list. If you opt in we will only contact you with information that is relevant to you as a WebFiling customer. We will never pass your e mail address onto third parties.
• #10: The next step is to authenticate your company. You will need to sign in to the service using your email address and password. It is worth noting at this point that the email address and password is linked to you as an individual. So, if you have 4 people appointed to a company and they all want to WebFile they would each register their mail address and create their own password. When it comes to the company authentication code there will only be one generated per company. Once you have given us your log in details you will be asked to input your company number and your authentication code. If you don’t yet have a code then you would select request an authentication code.
• #11: You 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. Anyone who is close to a filing deadline who wishes to make future submissions online I would say that time is of the essence. You need to start working on this now.
• #12: When you do get your authentication code it will be a random sequence of letters and numbers. You will be pleased to learn that you can amend your authentication code to one that is more memorable. You would log in to the service and access the company authentication section you could then make the changes to the authentication code.
• #13: The ROA for a company is the single most important address in our eyes. This doesn’t have to be the place where you carry out your business this is the address that anyone looking at our services will see as a point of contact for your company. This address as you know from the responsibilities slide should be correct and operational. The way I always describe it is that someone should be calling to that address to see that post has been delivered. With regards to the location of the ROA, it must always remain in its original jurisdiction. This means that if on incorporation it was set up as and England & Wales Co then the ROA should remain in E & W, same rule applies Scotland and Northern Ireland and Wales. You can of course trade anywhere you want but you must make sure that your ROA address location is constant.
• #14: So that is all the address issues dealt with. Now we need to move onto two very important pieces of information. The first of which is the annual return. From the overview screen in WebFiling you can see the status of the annual return. Is it up to date or is it overdue. It will also tell you when the next return is due. To submit your return you would simply select file annual return. So how many of you file your companys return? How many of you confuse your Companies House return with your Tax Return? If you do, you aren’t on your own.
• #15: The annual return is not to be confused with the HMRC Tax Return. It doesn’t hold financial information. There is a need for all companies to file an annual return every year. The date by which it is required is based on the Legal Return Date. This is effectively the anniversary for the company. We will expect to see a snapshot of the company at this point in time. The snapshot of the company tells us where the ROA is and who is involved in the company. We will allow 28 days after the LRD, the anniversary to get the return filed. There is a fee of £13 if you choose to submit the return online or £40 if you are submitting a paper version. It is worth noting that around 98% of AR are now filed online. If you are able to file online then it is the safe, simple and speedy way. There are a very small number of companies that will have no choice but to file paper. These companies are the exception and not the rule. I don’t want to keep banging the online drum but it is a point that I feel really needs to be emphasised.
• #17: The next essential piece of information will be the financial accounts. As with the annual return the information about this filing deadlines for the accounts will be on the overview screen. As you can see from thi point you can also make changes to the accounting reference date. Can be filed online Based on your incorporation date Usually the last day of your incorporation month Can be changed However…… Period can be shortened without restrictions But can only be extended once in 5 years - unless bringing in line with holding or subsidiary company
• #20: What is joint filing? Joint filing enables most small companies with relatively straightforward financial affairs to submit their company accounts online to both HMRC and Companies House at the same time. Joint filing is supported by HMRC you can download the PDF Template from both HMRC and CH websites. iXBRL is the computer-readable data standard for financial reporting which HMRC and Companies House have adopted for electronic filing of accounts. It is a one stop online facility. You enter accounts data once – File twice Joint filing can be used for any companies accounts with accounting periods starting on or after 6 April 2008. There is an exception, Community Interest Companies CIC’S cannot use the joint filing template.
• #21: Getting started To use the joint filing service customers will need. To have registered for HMRC online services and enrolled for corporation tax. You will receive the company’s government Gateway User ID and Password once registered by email. You will also need the CH registration number plus the authentication code if you are not already registered for Webfiling, the auth code will be sent to your RO address by 1st class post. Have your company’s annual report & accounts at hand to key in the figures. Download the joint filing template to complete the accounts data. This will allow you to file full statutory accounts to HMRC and by selecting the option to also file to CH you can file either dormant, small full or abbreviated accounts to Companies House. You will receive an email confirmation when the accounts are accepted. 8. The template can be worked off line so you can save your data and go back again to complete it. Benefits for Joint Filing Key figures once and file twice meeting two legislative obligations in one go! Saves time and money
• #22: We do hold a list of companies on our website that are able to offer software filing services. We do not rate these firms in anyway. We simply list them in an a – z format. We can’t recommend anyone. That is your choice to make.
• #24: This is a civil penalty and is placed against the company and not against the individuals. Late filing penalties were introduced in 1992 and had the effect if improving the compliance of accounts greatly. Over time the compliance rate did start to deteriorate so the decision was made to make changes to the penalty regime. The ruling states that the accounts need to be received by the registrar no later than the due date. Even one day late and a penalty will be levied. Since 1st February 2009 the penalty has doubled if the company files late 2 year’s running. You are able to appeal the penalty. You must appeal in writing to Companies House. The registrar must issue the penalty and they have very little discretion to not collect the penalty. There must be an exceptional reason why the accounts were filed late for the penalty not to be collected.
• #25: So, this is how the penalties play out. TALK AROUND THE AMOUNTS.
• #26: In spite of all the effort that we make to ensure compliance there are still a number of companies who fail to file on time and this has resulted in us levying penalties to Companies Filing late. Can I have a show of hands if you think Companies House collected more than 10 million in penalties last year More Than 20 million? CH collected a total of £59.1 million last financial year and gave it to HM Treasury. The previous financial year we collected £69 Million. Since CH introduced the double penalty to co’s for filing late two years running, the compliance rates have improved considerably. However, we would prefer not to give any money to the treasury and for you to keep the money in your own bank account.
• #32: Good morning / afternoon. My name is…..and I am here to give you an insight into the Output Products available at Companies House. I will start by providing you with an insight into the WebCHeck service, which is a non-subscription based service that allows you to check on any of the 3 million companies on our database 24 hours a day, 7 days a week. You can use WebCHeck to help maintain compliance with Companies House and to keep an eye on any companies you may deal with.
• #33: We have taken our services to the next level by launching a mobile app, which provides free information on the go.
• #34: 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.
• #35: When you search for a company on the App, as well as having access to basic company information, such as Officers Details and Filing History, you can send the company details via email or add the company to your Favourites list by clicking on the ‘Star’ symbol. The CH Mobile App allows you to store favourite companies that you may want to access frequently. It is possible to sort your favourites in a number of different ways, such as by Company Name or Number, or when the next Annual Accounts or Annual Returns are due to be filed. To do this you simply need to click the ‘Sort’ tab and select the sort method you wish to use. There is also a ‘traffic light’ system in place for companies saved in your Favourites. This system allows you to easily identify when the Annual Returns or Annual Accounts for a particular company are due to be filed, or are overdue. The Amber alert indicates that filings are due, with the Red alert identifying that the filings are overdue. Companies can be deleted from your ‘Favourites’ list at any time. If you would like a demonstration of the App or any of the output products in more depth, please come and see me at the end of this seminar.
• #36: If you want to check if a company name you want to use is available, the quickest way is to perform a Company Name Availability Search via the WebCHeck service. To do this, you just need to input the name that you would like, then ensure that the ‘Company Name Search Availability’ tab is selected and click on the search option. If the name you would like to use is available, the following message will appear on the search screen CLICK As previously mentioned, please make sure you do a history search on Dissolved names before you apply to use a company number – you can do this by selecting the ‘Dissolved names’ tab on the right hand side of this search screen.
• #37: 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.
• #38: Here are some more CH Products that can be used to extract co info from CH Database. A service supplying basic company details using a simple Uniform Resource Identifier (URI) for each company on our register.  The URI is a unique web address that represents a company (using the 'business.data.gov.uk' domain); and will return basic company details for that company The Company Data Product is a free downloadable data snapshot containing basic company data of live companies on the register. This snapshot is provided as ZIP files containing data in CSV format and is split into multiple files for ease of downloading. The Accounts Data Product offers a free daily and monthly downloadable ZIP file, containing the individual data files (instance documents) of company accounts filed electronically. The individual data files are in iXBRL and XBRL format. Companies House was recognised for the improvements made to our Digital Services, and is proud to have won the 2014 XBRL International Project Excellence award for Innovation in XBRL and open data. Bespoke Requests – These are one off requests for information from CH Data base for a fee. ie details of all active companies whose Business activity codes include Accountants / book keepers based in a postcode area of Birmingham. The XML Gateway offers electronic access to a core range of company information from Companies House Databases. The service is accessible online over the internet by authorised XML Gateway customers.
• #39: Companies House Service is a unified online service to replace all current services ie Webfiling, WebCHeck, CHD & XML Gateway. This Service will be coming soon. CH Service has all live co’s & 12 months of dissolved co’s. Can search by Name or Company Number. WebCHeck, CHD & Webfiling will continue to run parallel to CH Service while the new service is being introduced or phased in. All images will be free on CH Service including Mortgage Charges. By next Summer 2015 only Certified copies will be chargeable.
• #40: Reduced Burden –Moving away from form completion to a check & confirm approach. Open availability data – Reduced need for bespoke products & reports. New Application Programming Interface (API) Improved functionality for Software Filers. Enhanced Search Facility – Similar to Google Faster viewing of company Information Streamlined & Inituative. Open development – A website to help third –parties develop their own products based on the register. Improved Design – to benefit customers meet standards set by the Government Digital Service. Improved efficiency, reduced cost one service to Update & Support. Assisted Digital Support Digital Services for those users that need help.
• #46: On line User Panel – CH has its own usability suite for customers to help test our online services, we will give you up to £80 in return for your time and assistance. You can find out more and sign up to this panel via our website.
• #48: If in doubt please take note of our contact telephone number and email contact for general enquiries