Last year Companies House received over 2.7 million sets of accounts but 88 thousand were rejected simply because the:
• director's name or signature was omitted
• company name and/or company number was incorrect
• balance sheet statements were incomplete or missing
• accounting reference date was incorrect
Accounts filed on paper are 3 times more likely to be rejected than electronic submissions. Filing your accounts by paper is a much slower process, and the risk of receiving a late filing penalty is increased if your accounts are rejected. In contrast to this, electronic processes have automated accept/reject routines which allow you to submit accounts quickly and easily, reducing the risk of your accounts being rejected.
It’s essential to match precisely your company name and number with the public record. For example, using "&" instead of "and" is not acceptable and will result in a rejection.
Basic information like the company name and the accounting reference date are easy to check free of charge by using the Companies House Service or the Companies House App.
Electronically filing documents have many benefits which help avoid having accounts rejected:
More secure: you have control over the submission, prompt automated acknowledgement of receipt and no physical signature on the public record (this is provided via the use of the company authentication code). Validation routines are built in so you get prompt acknowledgement of receipt and accept/reject messages.
Better accuracy: software and web methods of submission have automated validation routines built in. Less requirement for manual checking and more peace of mind if you know you can "get it right first time".
Faster and more streamlined filing allowing you to save time and cost.