Companies House recently allowed companies to file accounts online using XBRL technology. The service has been well received, and by the end of August, 15% of all company filings had been made electronically.

But software companies fear that this progress may be hindered because of new company law.

‘I think it’s fair to say that the challenge that we face now is the ongoing legislative changes. That’s the challenge for me with Sage ­ trying to balance the accounting standards changes and getting that submitted through Companies House,’ said Greg Ford, managing director of the accountants division at Sage.

Jerry Rhill, head of Digita, said: ‘We’ve got the largest piece of legislation ever to go through parliament, the Companies Act. Companies House is changing the way it deals with organisations electronically. What keeps me awake at night is making sure that we’re ready for those systems.’