The need to file annual returns

People need to know who they are dealing with and they need certain facts. They need to know what your balance sheet is like and who your directors are in order to do business.

The tardiness of companies in filing returns

There has been a reluctance to give information on the basis that it will be seen by neighbours and people near you. And people have objected to their accounts being disclosed to other companies.

The need for the message to get out

What we have to have is the accountant saying that you could be prosecuted. We have done 750 prosecutions this year, and in recent cases, people were fined £250 even if they filed their returns before the court case. We need accountants to know that and we need companies to know that.

The old paper-based system

People were annoyed. People did come in, mostly foreigners, asking `why can I not access the accounts of this company?'

The future

The whole trend is going to be towards getting the information on your desktop rather than visiting an office to find it out.