BIS proposes simpler filing requirements

Three months ago BIS published a consultation document that included a proposal to abolish the Companies House Annual Return (AR), explains Jennifer Adams. AccountingWEB members were asked their views and it was clear from the comments received that they believed the return to be of value such that it should be retained - at least in some form.

However, this is a proposal that BIS are still interested in pursuing and this week another consultation document was issued giving more detail to the proposal as well as suggesting other changes with reference to Companies House (CH) filing. 

The starting point is CH’s belief that many submissions lead to duplication, resulting in increased costs. They are not questioning the content of submission rather the frequency and method. CH is also looking to improve its...

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Comments

Annual return

laronde123 | | Permalink

Why not just have one return for CT accounts and Annual return filed once a year to HMRC  for small companies at least . Otherwise its all duplication to satisfy HMRC lack of intergration

johnjenkins's picture

Yep I'm

johnjenkins | | Permalink

on that wave length. If not why can't the annual return info be put on accounts sent to co house yearly.

Joint CH and HMRC filing

emanresu | | Permalink

"The ‘take up’ of joint CH and HMRC filing of accounts has apparently been low"

Not really suprising as it doesn't work at all reliably.  We reckon that only about 20% of joint filings are accepted.  The error code returned suggests that the parsing of fundamental, pre-populated, data fields, viz. the Company Number and the Company Address, is the cause of the problem.  And, yes, we have notified HMRC of the above.

johnjenkins's picture

I Think the main

johnjenkins | | Permalink

reason the "takeup" is low is quite simply tax payers prefer to send in abbreviated accounts for joe public to see.

Joint Filing

emanresu | | Permalink

The original quote is about JOINT filing.  The software bug is a HMRC/CH problem whichever type of accounts you choose to submit to CH.

You can't help

The Black Knight | | Permalink

You can't help these idiots!

Fast track striking off for fraudsters a great Idea. I wonder what a fraudster is going to make of that? Are they saying this is ok to do and we should all be doing this?

I am very tempted to turn to the dark side and become a millionaire especially if the blind eye don't mind. I would be stupid not to.

Are these proposals being written by fraudsters?

Accountancy savings? annual returns - where we do them we do them for free? The cost of actual filing has to be insignificant. And why have the pillocks used a salary level not a charge out rate. Oh accountants in industry who are going to take a pay cut every time they don't file an annual return. Opportunity cost perhaps - ten minutes spare what shall I do? mm Tea and a biscuit. Now who's bill shall we put that on?

It is no wonder they have crashed this country! Treasonable.

In reality companies house have such poor quality control that most of the information filed is incorrect and misleading. Perhaps the solution is to abolish companies house altogether.

How much would that save in civil servants and their pensions?

As these civil servants are not doing their job any way do we need any of them? Companies House? the Police? HMRC? Well the compliant pay their taxes voluntarily anyway and HMRC merely support the the criminals giving them an unfair commercial advantage.

johnjenkins's picture

@The Black Knight

johnjenkins | | Permalink

sounds like you been watching those Joan Collins ads. But I do agree CH is past its sell by date.