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 WebFiling users, the filing of unaudited accounts will work using a downloadable template that can be accessed from WebFiling or from the HMRC Portal. This will prompt for all the relevant information required by either HMRC or Companies House and provide options to submit separate accounts to one or both of these bodies. You will still be able to provide Abbreviated Accounts to Companies House.
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 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.
Do I have to enter my accounts data twice to file to both Companies House and HMRC?
The principle of joint accounts filing is that customers will be able to enter their accounts data once, before submitting separate accounts to HMRC and Companies House.
Even though I am producing full accounts for HMRC, can I still file abbreviated accounts to Companies House?
Yes. The WebFiling template will allow you to enter and submit abbreviated accounts information to Companies House if you do not wish to submit full accounts data. You should speak to your software package provider about how their own products will facilitate this.
How can you assure me that only abbreviated accounts data will go to Companies House?
Using the Joint Filing Template, you will see a list of items extracted from the template which make up the Abbreviated Accounts submission. You will also be able to both view and print your subset of data that makes up your Abbreviated Accounts.
My filing dates with HMRC and Companies House are different. Can I use the template to file with Companies House first and return at a later date to file to HMRC?
Yes. The template will allow users to return and complete their HMRC requirements following submission to Companies House.
If I first file abbreviated accounts at Companies House, will I be able to later expand my data to submit full accounts to HMRC?
Yes. The template allows for this.
Can dormant companies use the template to file their accounts?
Yes. This is appropriate for Dormant companies that have traded. Companies who have never traded should complete the DCA (Dormant Company Accounts) available on the Companies House WebFiling service.
Will the template work for all accounts types?
The template will work for most Unaudited Accounts for Limited Companies. There is a table of exceptions at the beginning and advice to users on the suitability of the template. Exclusions include LLP's, CIC's, Companies Limited by Guarantee among others.
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.
WebFiling users also require a password which identifies them as a user through their email address. More details are available at http://www.companieshouse.gov.uk/infoAndGuide/faq/wfAccountsUserGuide.pdf
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.
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