Filing your Companies House information online: An overview
As is generally the rule, all firms are required to disclose their details to Companies House. This usually spans from yearly accounts to verification statements. Up until now, this information was being collected through a form that had to be filled and sent by post or through manual delivery. As the world gets accustomed to digital processes owing to the pandemic, firms are being encouraged to submit these details online.
The advantages of adhering to the online submission request are many.
- The time taken to process this information is also significantly reduced. The Companies House plans to go through almost all digital submissions within a day and inform its consent or denial of the submission. With paper submissions through post, this process can take up to 7 days.
- The online submission facility has an inherent mechanism to make it easier for firms to identify errors and hence avoid non-acceptance. When the online submission is delivered, a receipt is automatically generated and an approval verification is despatched if the submission is accepted. In case the submission is not accepted, an immediate notification allows for rectification and re-submission.
- Protected online filing also helps to saves firms from anyone making unauthorised revisions in information.
How to go about the submission process?
Firstly, a firm has to register its e-mail address and select a password.
Once this is done, a verification number is sent to the official address or even to a home location for a short period during the pandemic if a request is made.
Lastly, the online submission facility can be accessed to submit the necessary details. If you wish, you can also make use of a software from a third-party service provider to submit your details.
Who can leverage this online submission facility?
Limited Companies, Limited Liability Partnerships, Charitable companies can use this facility.
What information is to be submitted?
The details which can be submitted online are type of formation, details of changes in name, audit waived, full or shortened accounts, variation in accounts starting date, and accounts of sleeping firms.
It is important to note that a full audited account set cannot be submitted online.
Other information which can be submitted online include statement of confirmation of the firm, assigning of shares, revision of official location, information on a specific place for checking firm data, request/cancellation to remove a firm officially, details of assets purchased, kept as securities for loans/release of loans.
Other details which may be submitted/withdrawn digitally are information, updates, revision on appointment/suspension of directors/corporate secretaries/secretaries and directors stay location, people having noteworthy authority, pertinent legal institution and other registered individuals.
Charitable firms should submit complete accounts which fulfill both company and charity law and these should be submitted to Companies House and the concerned charity authority of the particular region.