BIT assessment 27 May 2016 to 8 June 2017
Updated 20 December 2022
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This publication is available at https://www.gov.uk/government/publications/companies-house-business-impact-targets/bit-assessment-27-may-2016-to-8-june-2017
1. Qualifying regulatory provisions that came into force 27 May 2016 to 8 June 2017
| Title of measure | Description | Business impact score (£ millions) | Regulatory policy committee reference number |
|---|---|---|---|
| Limited Liability Partnership (LLP) accounts enablement (started 21/07/2016) | A measure giving LLPs an option to file accounts electronically with us. Provides an easier option to some companies | 0 | RPC-3620(1)-BEIS-CS |
| Accounts enablement phase 2 (started 21/07/2016) | An amendment letting parent companies to submit consolidated accounts to us via an electronic service | 0 | RPC-3862(1)-BEIS-CS |
| Amendment of guidance (started 30/06/2016) | Guidance on our website was created or updated due to legislative changes brought about by the Small Business, Enterprise and Employment Act 2015 | 0 | RPC-4003(1)-BEIS-CS. |
| Amendment of guidance (started 06/04/2017) | ‘Register a limited partnership’ guidance was updated due to legislative changes brought about by The Legislative Reform (Private Fund Limited Partnerships) Order 2017 | 0 | RPC-4002(1)-BEIS-CS. |
2. Non-qualifying regulatory provisions summary
There are some measures that are a ‘non-qualifying regulatory provision’. This means that they aren’t scored against the business impact assessment. The list of excluded categories can be found in BEIS’ guidance.
2.1 27 May 2016 to 8 June 2017
| Excluded category | Summary |
|---|---|
| A - EU and international | Not applicable |
| B - Economic regulation | Not applicable |
| C - Price control | Not applicable |
| D - Civil emergencies | Not applicable |
| E - Fines and penalties | We take compliance action against company directors who don’t file their annual accounts or confirmation statement (annual return) on time. We have a target of 95% compliance for annual accounts to be filed on time and 75% for confirmation statements to be filed on time in 2017/18. Compliance action is ongoing during the extended period |
| F - Pro-competition | Not applicable |
| G - Large infrastructure projects | Not applicable |
| H - Misuse of drugs/national minimum wage | Not applicable |
| I - Systemic financial risk | Not applicable |
| K - Industry codes | Not applicable |
| L1 - Casework | We take enforcement action against directors who don’t meet their legal obligations. Enforcement action continues during the extended period |
| L2 - Education, communications and promotion | We have 3 events planned during the extended period |
| L3 - Activity related to policy development | We are continuing to work on digitally enabling an application to close a company (form DS01- striking off application by a company). The online DS01 is currently available to a limited number of invited customers as part of a ‘private beta’. Testing is ongoing. Work is also being carried out to enable companies to update their record electronically for filings that can currently only be done on paper. These include digitally enabling share capital forms, ‘promise to file’ and other forms |
| L4 - Changes to management of regulator | Not applicable |
| Tax, duty, levy or other charge | We must meet our obligations as a ‘trading fund’ and company registry, which means we must introduce or amend fees to accurately reflect the cost of providing each service. In some cases, changes can only be made by amending the fees regulations and alternatives to regulation aren’t appropriate. Fees were amended to align with costs and implemented following the Small Business Enterprise and Employment Act 2015 |