Vendors voice concern over online filing
Leading business software providers are concerned that the raft of changes to the Companies Act will make it more difficult for clients to file accounts at Companies House electronically
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.’