ECCTA reforms - and filing of complex accounts

Which software providers are leading in the preparation of electronic filing of complex accounts?

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The recent ECCTA Act which received Royal Assent in Oct 2023 brings with it a raft of reforms which are going to be rolled out over the next year (or two). There are two in particular that I'm trying to understand in more detail and Companies House aren't publicly providing much information on this as yet.  The first change is that in the future the larger and more complex sets of annual accounts for larger companies are going to need to be filed electronically via software to Companies House.  Do you know which software providers are going to provide easy solutions for this?  At the moment we have clients in this category where we just handle the signing and paper submission (by royal mail) to Companies House and for which we don't prepare their accounts, but this will of course change and be more aligned with the smaller limited company electronic filing.  Are any of the providers planning to develop simple software which takes for instance  the Word or Pdf version and convert these into the relevant tagging/ixbrl format needed, or are we going to have to recreate these accounts in the accountancy software just in order to do the filing?  Would appreciate your views.  Secondly, directors are going to need to go through ID verification with Companies House, and again I wondered whether anyone here has been involved in how this process will work for authorised agents to support directors through this process and whether there are third party software developers working on this at the moment.  Thanks for your views.

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John Toon
By John Toon
19th Feb 2024 13:16

No idea of what vendors are going to do regarding complex accounts but it's going to be interesting to see as most, if not all, vendors can't accommodate all eventualities. Most do have manual tagging tools which may be the workaround.

Regarding ID checks there was some guidance published recently which did touch on how accountants may handle the new requirements. I can't place my virtual hands on it at the moment but will update the thread if I find it

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By paul.benny
19th Feb 2024 13:40

ID verification is a mammoth task, even just for new companies and new appointments. And CH will have to devise a workable process for non-UK directors. I think we are a while away from this actually becoming mandatory; meantime, look out for consultations.

Likewise, CH have to come up with practical ways of accepting e-filing. FWIW, I think software tagging of word or pdf is probably the only way for larger companies.

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paddle steamer
By DJKL
19th Feb 2024 14:11

May not be the same thing but our corporate lawyers advised me today that of the four companies they are creating for us three went through fine but on the fourth Co House did not like the address of a director (Albeit he was appointed for two of the other three with no problem)

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