FYI Launches New Integration with Companies House

Posted on 30 January 2023

Does this sound familiar?

You are working on your year-end work for one of your clients; collecting data, reviewing transactions, and arranging meetings. Only to find out at the last minute, there has been a significant change in the structure of the company. A new Director was added, new shares were created or a change in register for persons of significant control (PSC).

Imagine being alerted of any significant changes to your clients’ records at Companies House. How great would this be for the firm and for building client relationships? Firms will be able to rapidly respond to any significant changes and potentially alert their clients to any fraudulent activity.

Today, we are excited to introduce a new FYI feature! Track all your clients and forms that have been submitted to Companies House. Then have them auto-filed, direct into your clients’ workspace in FYI.

Ian Cooper the Head of UK Operations is enthusiastic about this new feature. “We’ve been working with our UK clients, exploring ways FYI can help them reduce risk and increase efficiency. This idea was dropped into a conversation and instantly you could see nods of agreement.”

Companies House is the official register of companies in the United Kingdom. It records information about a company’s legal status, financial performance, and ownership. As an accountant, having access to this information is crucial to supply accurate and up-to-date financial advice and support to clients.

With this information now flowing into FYI Document Management, you will have near-instant notifications of any changes to company information, filed forms, and to the PSC.

With our new integration with Companies House, you can schedule FYI to import any files submitted to Companies House in the previous 24-hours. And best of all, you will not need to do any work to file these documents. FYI’s automation engine will be running this service and alert you to any new documents that have been filed.

Managing risk:

Monitoring which forms are filed at Companies House can help prevent certain financial crimes, such as money laundering and fraud. By keeping track of your clients’ financial information and ensuring that it is correct and up to date, you can help identify any suspicious or unusual activity.

What a great extra service and peace of mind that you can offer as part of your service bundle. This increases the value you offer and helps cement a long-lasting relationship.

However, it is essential to note that monitoring forms filed at Companies House alone will not prevent all types of crime, it is one of many tools that should be used in the effort to combat financial crimes. Other tools including money laundering (AML) regulations, KYC (Know your customer) regulations, and regular audits.

Filing the forms automatically:

FYI supplies dedicated document management for accountants. With our direct integration with Companies House, we will file all forms directly to your client, their companies house folder, tagged with the year.

We know and understand how important filing essential documents in the correct location is. We file these for your quick retrieval, and confidence that you can satisfy your governing bodies best practice recommendations.

Automatically alerting your team: 

With our automation engine, you and your team will receive items to review. These notifications can be sent in FYI, Microsoft Teams or Outlook. These documents will be easily checked from a dedicated document view in FYI

If any documents are unexpected, you can easily trigger a workflow to alert the right people that something needs extra attention.