This month we’re pleased to introduce an exciting and much requested new feature. Subscribers using their own presenter code can now upload an iXBRL-tagged company accounts file to Inform Direct and authorise us to submit this to Companies House. This new release greatly expands our company accounts filing service. You can now use Inform Direct to electronically file all the following types of statutory accounts with Companies House:
- Never-traded dormant company accounts
- Micro-entity accounts
- Small, medium and large company accounts
- Group accounts
- Abridged company accounts
- Audit-exempt accounts
- Audited accounts
- Revised or amended accounts
Getting your own Companies House presenter code
As a firm representing clients, you could set up your own Companies House presenter code. It's easy to apply.
This new service also allows Inform Direct to software file accounts for limited liability partnerships – as well as private companies (limited by shares or guarantee) and public limited companies. Companies House do not currently accept software filed accounts for CICs, and at present you cannot use Inform Direct to file charity accounts.
It’s quick to upload an iXBRL company accounts file to Inform Direct
It takes moments to upload an iXBRL-tagged company accounts file to Inform Direct. There are just two simple steps:
1 Check the balance sheet date
Inform Direct automatically displays the balance sheet date that Companies House are expecting. However, if you are filing revised or amended accounts you may need to adjust this date. The date shown on the screen must match the balance sheet date included in the iXBRL accounts file you are uploading.
2 Upload the iXBRL accounts file
Simply drag and drop the document into the file upload area or click on the ‘BROWSE’ button to open File Explorer and select the document you wish to upload. The iXBRL accounts document you upload must be either a .HTML or .XHTML file.
It’s as simple as that!
Built-in checks help you to avoid the most common errors
Inform Direct completes checks on the iXBRL-tagged accounts file you upload. These help you to avoid many of the errors, inconsistencies and omissions that most frequently cause Companies House to reject an accounts submission. For example, among other checks, Inform Direct ensures that the iXBRL accounts file you have uploaded includes mandatory information such as the:
- Balance sheet date
- Company name and number
- Start and end date of the accounting period
- Name of the director signing the accounts
- Date of approval of the accounts
- Taxonomy used to create the accounts
- Accounting standards used to prepare the accounts
- Average number of employees
- Tag indicating accounts are audited or audit-exempt
Although Inform Direct does run tests to check that the iXBRL file you have uploaded contains the mandatory tags required by Companies House, it cannot be used to validate the completeness and accuracy of the accounts themselves. When Inform Direct checks your iXBRL file, it does not verify the application of accounting rules, or confirm that dates, currencies and numeric values are consistent, or examine the quality of the iXBRL tagging. You should refer to the accounting software used to produce the iXBRL accounts file to ensure that these checks have been completed.
Streamlined company accounts filing
Having successfully uploaded an iXBRL file, you can choose whether to electronically submit the accounts to Companies House straight away, or to delay while you obtain client approval for the submission. Our efficient process also:
- Allows you to produce a pre-populated board minute and/or written directors’ resolution, meaning that it is simple for the company to document director approval of the accounts.
- Automatically stores the file upload, and any other documents generated to support the filing (such as the board minute) to the company’s secure Document Library.
- Keeps you informed of the status of the accounts filing. Once the filing has been accepted by Companies House, you will be immediately informed via email, plus a notification on the company dashboard and a green check alert on your portfolio page.
Filing revised company accounts
Subscribers using their own presenter code can also use the iXBRL accounts service to electronically submit revised accounts. However, as Inform Direct does not offer advice on this, you must be sure that you can rely on the accounting software used to produce the iXBRL accounts file. Companies House will reject the submission if the iXBRL file does not contain all the required tags necessary to indicate that you are filing amended accounts.
Prepare and file company accounts using Inform Direct
If you are not a subscriber using your own presenter code, or you do not have access to accountancy software that will produce an iXBRL accounts file, you may still be able to use Inform Direct to file company accounts. Inform Direct provides a streamlined flow that enables you to efficiently prepare both micro-entity accounts and never-traded dormant company accounts, and software file these with Companies House. If you are a subscriber to Inform Direct, the preparation and filing of accounts is included in your monthly payment and there are no additional fees to pay.
Let us know what you think
Please do contact us and let us know what you think of this or any other features in Inform Direct. We are always looking for ways to enhance our service and receiving feedback from you is a vital part of that process.
You can also check out our timeline of updates, past and present.
File company accounts on time and keep statutory books up to date. It's quick and simple with Inform Direct.