Business impact target: non-qualifying regulatory provisions or measures, December 2020 to December 2021
Updated 20 December 2022
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1. Non-qualifying regulatory provisions or measures
| Excluded Category*[footnote 1]: | Summary of measure(s), including any impact data where available |
|---|---|
| De minimis (measures with an EANDCB below +/- £5 million) | |
| Measures certified as being below de minimis (measures with an EANDCB below +/- £5 million | In December 2017, we implemented a service that allows companies to submit abridged accounts directly to Companies House digitally. Previously, abridged accounts could only be submitted on paper, or digitally using either specialist software or using Company Accounts Tax Online ((CATO) - a method of submitting accounts jointly to Companies House and HMRC. We believe that this expansion of the options available to companies wishing to file abridged accounts will have some benefit to business. For instance, it may remove postal costs. However, the volume of transactions (59,133 abridged accounts have been filed using this means between December 2017 to April 2018) suggests that benefits will not exceed the de minimis threshold. |
| Measures certified as being below de minimis (measures with an EANDCB below +/- £5 million | In March 2018, we implemented a service to allow Charitable companies to submit their annual accounts to Companies House online via specialist software. Previously these companies could only submit their accounts using paper. Account filers now enabled as part of the project is approximately 40,000 so the impact would be low. It is difficult to realise any financial benefits to customers as we do not know if they have developed or purchased their own software. As at the 31 March 2018, there were 13,682 Charitable Incorporated Organisations with 3,310 Scottish Charitable Incorporated Organisations |
| Measures certified as being below de minimis (measures with an EANDCB below +/- £5 million | Companies House is working towards digitally enabling an application from a company to close (the eDS01 service). Companies have previously only been able to apply for closure using paper application forms. This new digital service is currently available to a limited number of customers (by invitation) as part of “private beta” stage (i.e. test). Between April 2017- March 2018, over 30,000 forms were filed online. Although we believe there are some limited benefits to companies choosing to use this new channel, we believe the volume of transactions results in the overall benefit not exceeding the de minimis threshold. |
| All other excluded categories | Following consideration of the other exclusion categories there are no measures for the reporting period that qualify for the Exclusions |
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*This column will be updated with the other exemption categories once the Business Impact Target has been announced. Complete the summary box as ‘Following consideration of the exclusion category there are no measures for the reporting period that qualify for the exclusion.’ where this is appropriate. ↩