1. General information about the survey
Aim of the Balance Sheet Survey (BSS)
The Quarterly Balance Sheet Survey (BSS) is a quarterly survey that collects information on the assets and liabilities of your business. The information supplied forms part of the UK's National Accounts and Balance of Payments which are used by the Treasury and the Bank of England to monitor the economy.
Selection for the Balance Sheet Survey (BSS)
Your business has been selected from a directory of businesses in the UK, which are registered for VAT (Value Added Tax) and/or PAYE (Pay As You Earn) or with Companies House. Your response ensures we represent your industry. The Quarterly BSS is conducted under the provisions of the Statistics of Trade Act 1947. Once selected, your business is legally obliged to comply. You cannot appeal your selection.
Difference from the inoperative Financial Assets and Liabilities Survey (FALS) questionnaire
We have expanded the number of questions to reflect a full balance sheet so that we can collect more comprehensive data, to better inform the UK National Accounts and UK Balance of Payments. Although we appreciate that we are asking for more detail than on the FALS survey, the extra data we have requested is very important and we hope bringing the questionnaire into a balance sheet format and moving it on-line, will make the task less onerous.
What to do if an additional person needs access to complete the BSS
You can enrol on our Office for National Statistics (ONS) Business Surveys website, download the questionnaire and send it to another person to complete. Once they have completed it and you have checked it, you will need to upload the completed questionnaire yourself; your colleagues will not be able to upload it on your behalf.
Alternatively, you can ask us to provide access to your ONS survey account for an additional user by calling 0300 1234 931, please enter the three-digit survey ID 086 (+44 1633 810495 from outside the UK). You will be provided with a unique enrolment code for the additional user. This will give them shared access to the survey, so they can download the questionnaire and upload it when it has been completed.
Locked out or need a password reset
If you still have the email address you used to create your account, you will be able to reset your password by using the "forgot password" link on the sign-in page. If you get locked out, you can email surveys@ons.gov.uk with BSS 086 and your reference number in the subject line. The account can be unlocked after completion of security checks.
What to do if you need to revise earlier returns
It is possible to re-upload revised survey returns, and revisions can be resubmitted through the history tab on SDC (Survey Data Collection) (ONS's online survey system), and then selecting the relevant quarter.
For respondents who have been selected in the sample from Quarter 2 (April to June) 2022, you will only need to provide returns for Quarter 2 2022 onwards.
2. Questionnaire guidance and definitions
What if I am unable to meet the requested return by date?
The return deadline for the BSS is three weeks to meet National Accounts deadlines. If you do not have all the information, we ask you to provide informed estimates for the missing information and, if possible, to resubmit the return when you have complete information. The ONS's online survey system will allow you to revise figures for the previous quarter or quarters. If you believe that there are special circumstances that make it impossible for you to report to current timescales, you can request a review of your case by emailing us at surveys@ons.gov.uk quoting "BSS - questions" in the subject line. You should include a brief explanation of the reasons for your request along with your reference number.
What to do if there are significant discrepancies between estimated returns and actual figures
If possible, we ask you to revise previous quarters' results in line with the company accounts, but we understand that this may not always be feasible. We ask that you note any significant discrepancies in the general comments box on the "Review" spreadsheet or in the "Comments" columns.
3. Additional questionnaire guidance
Non-consolidated accounts
Please do not report on a consolidated basis, ideally where possible report on a non-consolidated accounts basis. That is, figures for each of the operating agencies, subsidiaries and so on, making up the group. We understand that in some cases you may not be able to provide this information. we are looking for a combined return for all of the UK companies in your group that fall within scope of the survey as outlined in Section A - Survey coverage.
When creating a combined return, you should add up the individual balances for the companies you are including on the survey and provide the total figure.
Intra-group balances should be reported gross and not eliminated as you would do in a consolidated approach.
Domiciled
By domiciled, we mean that the company is engaged in the provision of goods or services from a location within the relevant country. If there is no physical presence, the country under whose laws the entity is incorporated or registered can be used as an indicator.
Overseas branches of a UK domiciled company should be excluded from the survey coverage, assuming the branch meets the following criteria.
If they do not meet these criteria, then they should be merged with the UK parent for reporting purposes.
a) The branch either compiles a complete set of accounts, or could meaningfully do so and one or more of the following is true:
i) The branch undertakes or intends to undertake operations for one year or more.
ii) The branch is recognised as being subject to the income tax system of the economy in which it is located (even if it may have a tax-exempt status).