Concern that companies are avoiding advisers for accounts filing

A high rate of failed accounts filings at Companies House could be due to a
move away from using qualified professionals to undertake the task, advisers
have warned.

Accountancy Age
last week
that one in ten filings to Companies House had been
rejected due to formatting errors.

Advisers believe that there a number of potential reasons for the high rate:
that companies might be using un-qualified accountants to file on their behalf;
changes to filing format rules have caught out filers; and Companies House has
increased its vigilance.

“The compliance and regulatory side of the business is becoming increasing
price-competitive and we continue to compete with unregulated and unqualified
practitioners,” said Will Abbott, a partner at Randall Payne.

“I am sure there are more and more unrepresented directors of the smallest
companies trying to submit their own accounts, thinking that is a good strategy
in the tough economic climate, and undoubtedly that is inflating the rejection
statistics,” said James Abbott, a tax partner at Baker Watkin.

“It suggests that Companies House are getting a bit ‘picky’ with regard to
some sets of accounts which are not up to standard,” said Anthony Harris,
director at Critchleys. “But this is good as in the past I have seen some
disgraceful wholly non-compliant sets of accounts just accepted by Companies
House, which has failed to highlight to directors where they are failing.”

Further reading:

in ten accounts rejected by Companies House

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