The government’s central registry has enhanced its online service provisions to now enable customers to submit company filings and make payments using card or BACS online.
These enhancements, it says, will provide quicker, more efficient access to services, and ‘contribute to substantial efficiency gains for both the Registry and its customers’.
The expanded platform will soon replace the current email filing option introduced during the pandemic and assists Corporate Service Providers in meeting a new one-month filing requirement for director changes under the Companies Act 2006, which came into effect on April 1.
It is hoped that the new filing requirements for companies operating under the provision of the Companies Act 2006 will result in a significantly higher number of annual returns being filed electronically via the Registry’s Simple Online Annual Return Service (SOLAR).
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The introduction of the SOLAR service in December 2021 and its recent enhancement has enabled the Registry to redeploy two team members to a new data assurance team.
In common with other companies’ registries, the Isle of Man Central Registry is evolving to become an active gatekeeper of company data on registers, rather than a passive recipient. The data assurance team will be responsible for this approach and will continue to be developed over the next year.
Minister for Enterprise Tim Johnston said: ‘This move aligns with the Isle of Man Government’s efficiency programme, which focuses on optimising public sector operations, with digitisation forming a key element of the programme of work to find efficiencies and improve public services.
‘By transitioning these key services online, the registry has identified that it can reduce staff-managed administrative tasks, freeing up resources for strategic work and enhancing overall effectiveness.’
Recent legislative changes have provided the Central Registry with greater powers to challenge corporate information presented to it.
It is also establishing closer links with regulators and law enforcement agencies to drive compliance and improve data quality.