Published: December 22nd, 2020 in Latest News
In a bid to save money and become more customer-oriented, Companies House is stopping paper reminders.
Paper reminders were launched by Companies House to ensure that business owners, directors and self-employed individuals were aware of when company accounts and confirmation statements were due.
However, Companies House has announced that they are stopping paper reminders.
If you operate as a Sole Trader, own a Limited Company or are a member of a Limited Liability Partnership, you must ensure that you sign up to receive email reminders to ensure that you stay up to date with your Companies House filings.
Find out more about why Companies House is stopping paper reminders and what it means for you here.
Why Are Companies House Stopping Paper Reminders?
On Monday 9th November, Companies House ceased their long-standing paper reminders and urged business owners instead to take advantage of their new email reminder service.
Companies House have stated that they are stopping paper reminders in a bid to save money, become eco-friendlier and ensure that business owners can submit any information requested by Companies House at ease.
As stated by Companies House, each year, sending paper reminders to businesses, business owners, and self-employed individuals across the United Kingdom costs an average of £1.2 million.
As they cease sending paper reminders, they have guaranteed that the money will be reinvested into their services, which will ultimately see them improve their current customer services.
How Will Reminders Be Sent Going Forward?
From now on, reminders that would have previously been sent to directors of Limited Companies and Limited Liability Partnerships will be sent via email.
Companies House have confirmed that email reminders have proven to be more successful than paper reminders, especially as email reminders see users file the requested information on time and with ease.
Unlike paper reminders, email reminders will also enable directors to file any necessary documents via a link immediately. In addition to ensuring that information can be submitted quickly, this will ensure that late filing penalties can be avoided.
Understanding that Limited Liability Partnerships will have more than one director, Companies House has stated that email reminders can be sent to up to four people
However, it should be noted that directors of Limited Companies and Limited Liability Partnerships are responsible for ensuring that they sign up to receive updates from Companies House.
Who Will This Impact?
As Companies House stops paper reminders, directors of Limited Companies and Limited Liability Partnerships will need to ensure that they sign up to receive email reminders to ensure they are notified when their company’s accounts and confirmation statements are due.
As touched on above, email reminders can be sent up to four people. This is especially useful when reminders need to be sent to multiple partners of a Limited Liability Partnership.
Companies House has also confirmed that email reminders can be sent to accountants and agents.
Not only will this ensure that accountants and agents can stay up to date with the status of their clients’ accounts, but it removes the need for directors of Limited Companies and Limited Liability Partnerships to forward emails onto the relevant people.
How to Sign Up For Companies House Email Reminders
If you are yet to sign up for Companies House email reminders, we would encourage you to do so as soon as possible. This will avoid any miscommunication and penalties.
To sign up for Companies House email reminders, you will need to log into your Companies House online filing portal. From here, you will need to select ‘Activate e-reminders’. You will then need to add the email address that you want email reminders to be sent to.
If you employ an accountant or agent, it is here that you will also need to add their email address. Before activating email reminders, we would highly recommend that you contact your accountant or agent and ask them which email address they require your Companies House email reminders to be sent to.
In doing so, you can ensure that email reminders are sent to the correct email address and avoid any penalties in the future.
If you own a Limited Liability Partnership that has more than four members, you will need to decide which members will receive the email reminders.
We would suggest that the individuals responsible for filing tax returns and ensuring that any information requested by Companies House is submitted are subscribed to the email reminders.
Information for Our Clients
If you currently employ our services, we welcome you to send email reminders our way. We would ask you to ensure that your dedicated accountant is the recipient of any email reminders.
This will guarantee that your dedicated accountant can stay on top of any notifications provided by Companies House.
If you are unsure of who to direct your Companies House email reminders to, please contact us and ask us. We can then provide you with the correct email address to avoid any issues from arising in the future.
Take Advantage of The Services We Provide
If you find yourself looking to employ the services of an account, why not consider The Financial Management Centre?
At The Financial Management Centre, we provide a wealth of services to Sole Traders, Limited Companies and Limited Liability Partnerships across the United Kingdom.
In addition to ensuring that your accounts are filed promptly, we will ensure that Companies House has all of the information they request regarding your company or partnership as and when needed.
Contact Us Today
If you are interested in finding out more about the services we can provide, or would like to obtain a custom quote for your accountancy needs, please feel free to contact us today.
Our team of accountants can answer any questions you have and ensure that you are confident in your decision.
Simply call us on 0333 202 7198 or email info@tfmc.co.uk.
Source
https://ewf.companieshouse.gov.uk//seclogin?tc=1
