Following the passing of the Economic Crime and Corporate Transparency Act on 26 October 2023, Companies House will be undergoing a number of changes over the next few years in order to play a more significant role in disrupting economic crime and supporting economic growth.
The first set of changes are proposed to be introduced on 4 March 2024. These include:
- Greater powers to query information and request supporting evidence;
- Stronger checks on company names;
- New rules for registered office addresses;
- A requirement for all companies to supply a registered email address;
- A requirement for all newly incoprorated companies to confirm they are forming the company for a lawful purpose, and to confirm its intended future activities will be lawful on each future annual confirmation statement;
- The ability to annotate the Companies House register when information appears confusing or misleading;
- Taking steps to clean up the Companies House register, using data matching to identify and remove inaccurate information; and
- Sharing data with other Government departments and law enforcement agencies.
It will be important for all registered entities to keep up to date with these changes so as to not fall foul of their obligations going forward.
Please feel free to contact Sing Li email@example.com, the author of this article, if you require advice in order to remain up to date with these changes.
The Economic Crime and Corporate Transparency Act gives Companies House the power to play a more significant role in disrupting economic crime and supporting economic growth. The act received royal assent on 26 October 2023.