The CRO wants to give company directors and company secretaries faster, safer, cheaper and more efficient ways to file information with us and so we are putting our efforts into offering ways to file information electronically. Already the facility to update corporate information electronically is available and its use is growing. In 2006, 56% of notifications of changes to registered office address are filed electronically and electronic notifications of changes to secretary/director details are at 47%.

Undoubtedly, the big incentives for electronic filing are speed and cost. Documents filed electronically are registered more speedily than paper forms. Also, the following changes can be notified electronically free of charge:

Secretary/director details

Registered office address

From multi-member to single-member company and vice-versa

Ordinary/special resolution and any document lodged in connection with it (except change in company name which can be filed online for 50 as opposed to 100 by paper)

Since 2002 it has been possible to electronically file annual returns using secretarial software packages. These packages are mostly used by professional advisers. We are now extending the electronic annual return to the web. Many businesspeople will continue to delegate the task of filing companies' annual returns to their professional advisers. For those who don't the online solution is ideal.

Faster

Timing is important for filing annual returns, not least because of the automatic late filing penalty. Filing online will remove the need to rely on postal services to file the annual return form on time. In addition, an additional 28 days is made available within which the signature page, accounts and fee must be submitted.

Safer

Businesspeople will be able to track the status of their annual return in the CRO thus being sure that we have received the documentation.

Cheaper

Filing online will costs 20 as opposed to 40 for paper.

Easier

The system presents a pre-filled annual return containing the data from the previous annual return which the user only has to check, amend where appropriate and sign.

Also, in-built checks help users avoid making the errors and omissions that are common on paper forms and which delay registration.

All in all, this cost effective, easy-to-manage solution to filing a company's annual return will help businesspeople to focus on those more strategic issues like running and growing their company.