Gone are the days when filling in your statutory forms involved several items of stationery and one big headache. The development of Electronic Filing is revolutionising the way the public interact with Companies House, and this is proving especially valuable for professional advisors who manage a large portfolio of companies.
What is Electronic Filing?
Electronic Filing, or e-filing, is the transmission of information to Companies House via email. Many documents can be electronically filed, including
- 190 (change of address of debentures)
- 225 (change of Accounting Reference Period)
- 287 (changes of address of Registered Office)
- 288a, 288b and 288c (director and secretary changes)
- 88(2) (allotment of shares)
- 123 (increase of share capital)
- 363 Annual Return
CoSec Online enables you to use one code to file documents for all of your companies. In addition to electronically filing, CoSec Online offers you many added functions such as bulk Annual Return filing, automatic production of forms, minutes and resolutions, a central database for company management, pro-active reminders and compliance details.
Using CoSec Online will also allow you to take advantage of a Companies House credit account, centralising payment of any fees you incur from electronic filing a fee-bearing document such as an Annual Return (363).
Paper v's electronic
Companies House are encouraging the take-up of electronic filing by reducing fees for forms filed electronically and in some instances increasing fees for forms paper-filed. New fees approved by Parliament in 2004 apply will apply from the 1st February 2005. It now costs £30 to file your Annual Return on paper, whilst the price remains at £15 if you electronically file.
Electronic incorporations, such as those available through our website www.companyformations.co.uk, which accounted for 74% of all incorporations over the last 12 months, are now also cheaper. The fee for a same day incorporation has been reduced by over 60% and incorporating an LLP has been lowered from £95 to £20. These price changes reflect the difference in costs of providing electronic based services.
How can electronic filing benefit you?
In addition to the monetary savings, electronic filing facilitates a more efficient relationship between you, your client and Companies House. Documents electronically filed are processed far quicker than their paper counterparts, some instantaneously. Over 99% of electronic incorporations, such as those offered by Waterlow Company Formations, are processed within 24 hours. It also gives you peace of mind as an email acknowledgement is sent to the originator to confirm delivery of any documents filed.
E-Filing - the future?
Electronic filing is safer, simpler and more secure for everyone which is why more and more firms are switching from pen, paper and post to electronic filing with CoSec Online.
See our features page for more information.
