Companies House to open up UK business data for free.

From April 2015, Companies House are planning to make digital data on UK Companies available free of charge to both individuals and businesses.

Is this helpful or not for Contractors operating their own Limited Companies?

Well, if you are contemplating a contract with an end client, who is not well known to you, this will make it easier for you to carry out your due diligence. For no cost you can check out the activities and ownership of companies offering you contracts, a process that will hopefully protect you further from the risks of late or no payment for your services. It is worth remembering you may want to carry out due diligence on both your agency and end client, depending on who you are contracted to and who is paying your company invoice.

A downside may be that data on your own company becomes free for others to view, because of this you might want to consider the data that is available on the public record. Whilst Orange Genie Accountancy ensure that only abbreviated accounts are filed offering limited information to anyone viewing the accounts, your address will be visible.

If your home address is the Companies Registered Office, this extra transparency may increase the volume of direct marketing material you receive. However, we can provide you with an alternative registered office address - speak to your accountant regarding this who can run through the necessary information with you.

If you have any queries regarding this topic, give your dedicated accountant a call on: 01296 468 185 or email accountancy@orangegenie.com 

To visit the Orange Genie Accountancy website, click here 

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