Companies House: Thirteenth Report of Session 2007-08, Report, Together with Formal Minutes

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Companies House has two main functions: the incorporation, dissolution and restoration of limited companies; and the maintenance of a register of company details, annual reports and accounts which it makes available for public inspection. It funds its work by charging fees and pays a small dividend to the Treasury each year. Companies House handles a vast amount of data. It is now doing much more of this electronically. This move has not been entirely smooth. In the Committee's view, the greatest difficulties facing Companies House, and those who use its services, arise from matters which are not directly controlled by Companies House itself - namely the way in which the internet has enabled faster and easier access to information. The Committee makes a number of recommendations about assessing particular risks and trying to reduce them. An underlying theme of this report is the need for Companies House to do more to explain the limitation of the information it holds. It is felt that much more could and should be done to make clear that the role of Companies House is to receive and publish data and that its power to verify information is extremely limited

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