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Software Filing FAQs What is Joint Accounts Filing? Joint Accounts Filing describes a method for companies and their agents to produce and submit the different sets of company accounts they need to send to HMRC and Companies House from a single set of data. For Software Filing users (i.e. using an accounts production software application) parallel solutions will become available over the next year from leading package providers. Ask your software provider for details of their plans in this area. What accounts types can I file? Audit exempt full and small abbreviated accounts can be submitted via this method. What is iXBRL? (InlineXBRL) iXBRL is the computer-readable data standard for financial reporting which HMRC and Companies House have adopted for electronic filing of accounts. Will the iXBRL accounts I produce for HMRC also be acceptable to Companies House? Yes. All the information required by Companies House is included in the iXBRL accounts you send to HMRC. You may still choose, however, to submit abbreviated iXBRL accounts, created as a subset of the data you provide to HMRC where your company qualifies. Are the iXBRL tagging requirements the same for both HMRC and Companies House? All the accounts information required by Companies House are included in the UK GAAP minimum tagging list specified by HMRC. When will I be able to file iXBRL accounts to Companies House? We will be in a position to accept iXBRL submissions from software packages from Summer 2010. We are working closely with accounts production software providers so please ask your software provider for details of their roll-out programme. We are aiming to make the new WebFiling accounts template available from Autumn 2010. When can software developers start testing their software? Our test service will be available in the Spring of 2010 for any software developers that are ready to test the validity of their iXBRL files for Companies House. What security credentials do I need to file accounts to Companies House and HMRC? To submit accounts to HMRC, you need to use your Government Gateway credentials. To make an e-filing submission to Companies House you need a company authentication code. Software Filers need a presenter code, linked to an e-filing account. More details are available at http://www.companieshouse.gov.uk/toolsToHelp/efilingfaq.shtml Is Companies House going to make electronic filing mandatory? We are committed to doing 100% of our business electronically and the new Companies Act has given us powers to mandate e-filing. Nevertheless, we are not ready to withdraw any paper filing options at the moment, nor do we have a timetable for doing so. Our e-Filing levels have grown rapidly in recent years as customer preference has shifted away from paper and towards electronic submission. This year over 90% of annual returns and incorporations, for instance, have been submitted electronically. As our e-filing service matures further and paper filing volumes continue to shrink, we will consider phasing out paper filing options altogether for some, if not all of our filing transactions. Before any paper filing options are withdrawn, however, we will consult our customers and go back to parliament on our approach to mandating. Access a list of approved Software Filing suppliers To keep up with the latest news on the progress of the joint accounts development, subscribe to the accounts RSS feed. |
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