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Filing of company returns - Coggle Diagram
Filing of company returns
All companies are required to give notice to the Registrar of changes to their constitution, officers, members, PSCs, accounting information and charges over their assets
Notice is given by submitting the relevant statutory form, copy resolution, financial statements or other documents as required by the Act to the Registrar for registration and placing on the company's public file
Under CA2006 s.1191 those submitting information to the Registrar are under an obligation to ensure that the information provided is accurate and true
Paper versions of all statutory forms are available free of charge from Companies House
Almost all forms are also available for completion and submission online from the Companies House website using the WebFiling service
For certain filings such as incorporation, changes of name, re-registrations and confirmation statements there is a fee payable and the fee is reduced where the forms or documents are submitted electronically
Although all forms must be authenticated or signed, it is not necessary for hard copy documents to bear an original 'wet' signature. There is a presumption that the use of an automated signature will be subject to internal controls. This relaxation does not extend to allowing submission of documents by fax, due to issues relating to document quality
The Registrar has the power to reject documents if they are incorrectly completed, not signed, received late or are illegible
Illegible means not only documents that cannot easily be read but also documents that are not capable of being captured electronically, or where capture is possible but would result in an unacceptably large file. Accordingly, documents may be rejected if they contain shading, colour text or images or are printed on glossy paper
Online filing
Many companies will find it more convenient to file their statutory forms online
Advanatges
Quicker
Cheaper
Rejection rates are lower due to inbuilt checks, pre-population of data
Automatic confirmation of filing
Environmentally friendly
Users of the online filing services can opt in to receive email reminders for submission of annual accounts and confirmation statements and can also opt in to the PROtected Online Filing Service (PROO). PROOF combats corproate identity theft by making changes of registered office or director only notifiable using either WebFiling or software filing
WebFiling
Registering to use the WebFiling service is very simple requiring the online registration of a username and password and then requesting an authentication code for the comapny
The authentication code is posted to the company's registered office address
The authentication code acts as the signature on the forms
Software Filing
The software filing service allows companies to file most Companies House forms, some forms of accounts as well as incorporation documents using an approved third party software package or by developing their own bespoke solution in house
use of the services requires registration with Companies House and the setting up of an account for the payment of any fees which are invoiced monthly
Prosecutions for failure to file statutory returns are rare and typically only in respect of no filing of confirmation statements or annual accounts. The ones are usually quite modest however the implications are much broader as a successful prosecution will result in a criminal record and this is then accompanies by difficulties in obtaining bank loans and mortgages and can lead the person to be denied entry to some foreign countries
Even where a prosecution is not brought a director's track record for filing or failing to file documents on time or at all is taken into account where other breaches of regulations are being assessed or a directors behaviour is being assessed either in insolvency or disqualification proceedings