Common Approach to Online Filing

[Scottish Business Owner]

Just came across the link below about HMRC and Companies House looking at having one system for filing accounts.

HMRC and Companies House common approach to online filing

Now it can actually be quite expensive to get your accountant to file one set for HMRC and another for Companies House. It sounds in principle like a very good idea but the above article was done a while ago and the actual approach seems to have been agreed last year.

What's your thoughts on this? I also wonder if anyone knows how this is actually progressing and how far away we are from seeing this is action?

 

[Weeyoyo]

Would that mean you would only submit an abbreviated set of accounts to HMRC instead of a full set?

Garry
Lavazza Coffee Bean and Coffee Pods Suppliers, Discount Coffee Beans :: NextDayCoffee.co.uk

 

[Gouldie0]

Would that mean you would only submit an abbreviated set of accounts to HMRC instead of a full set?

Garry
Lavazza Coffee Bean and Coffee Pods Suppliers, Discount Coffee Beans :: NextDayCoffee.co.uk

No it doesn't, you would still need to submit a full set based on all of your accounting data. You could then draw a set of abbreaviated accounts from that data rather than have to submit two sets of accounts to different recipiants.

It just means Companies House will be able to access your information from the one source and allow you to submit that way.

This should benefit quite a few small limited businesses.