Companies House New Challenges for the Registries Challenges

Companies House New Challenges for the Registries: Challenges for Companies House Paul Reynolds Senior Policy Advisor: Europe

“ providing company information that customers value ”

Government Agendas • • Streamlined interaction with government Digital Interconnection Open Data / Public Sector Information Transparency Growth Austerity and efficiency

CH Challenge BURDENS INTEGRITY TRANSPARENCY

Burdens

Red Tape Challenge • • Company names Out of date legislation Annual filing requirements Requirements to keep information Digital communication Duplication Amending the register Penalties

Open Data and Transparency

Free Integrity OPEN Transparent Data Accurate

430 m 175 200% 181 3 MILLION 130 m 298, 000

181 M

Transparency and access • • Accessible data More data Free data Dynamic data, linked data, mashed data … Enhanced corporate transparency Efficiency Automation Open Data – The Power of information

Use of accounts (data) • • Financial health – new suppliers, lending Financial ratios / gearing Credit evaluation / solvency Market Analysis: Competitor, Customer, Supplier • Tax assessment

Integrity and Accuracy

Integrity & Accuracy • • Over 8 million transactions each year Accounts and Annual Return compliance Low level of complaint post registration Future potential for improving • • Identity Assurance The power of digital Reviewing and using our powers Better remedies

STRATEGIC OBJECTIVES EASE OF USE

Thank you for listening Any questions? Paul Reynolds: preynolds@companieshouse. gov. uk