On 4 March 2024, Companies House rolled out its first major changes under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). Following some delays due to changes in government, the Registrar has now published a transition plan for the full implementation of the ECCTA, which is set to be completed by 2027.
In 2025, several key priorities are set for development, including enhancing data accuracy on company registers under the ECCT Act, introducing a new identity verification process, and continuing to improve customer satisfaction alongside legislative changes. Efforts will also focus on supporting economic growth and combating economic crime, with a control strategy to guide strategic assessments.
As a growing business, you’ll need to be aware of the changes and plan carefully to ensure compliance.
Key changes and timelines
The reforms are being rolled out over several phases. Some of the key upcoming milestones include:
- Winter 2024–2025: Companies House will begin expediting the removal of companies registered under false pretences, or information which is wrong or fraudulent.
- Spring 2025: Checks will start for Authorised Corporate Service Providers (ACSPs) who can verify identities, and individuals will be allowed to voluntarily verify their identity ahead of mandatory verification.
- Autumn 2025: Mandatory identity verification for all new directors and Persons with Significant Control (PSCs) - this will be a rolling 12-month transition phase as an addition to the existing annual confirmation statement regime.
- Spring 2026: All companies will need to verify the identity of their presenters during filings.
Key upcoming dates in 2025 include:
- 27 January: Individuals can apply to suppress residential addresses used as registered office addresses on historical documents.
- 12 February: GOV.UK One Login will be available for signing in to update company information.
- 25 February: Registration for Authorised Corporate Service Providers (ACSP) opens, and new powers will allow quicker removal of false companies from the register.
- 25 March: Individuals can voluntarily verify their identity via GOV.UK One Login.
What do these changes mean for your business?
The ECCTA’s changes require businesses to implement identity verification for all directors and PSCs. For start-ups, this means ensuring that all relevant individuals are verified, particularly as Companies House will not accept appointments unless verification is completed. Timely director appointments and adherence to new identity requirements will be crucial to maintaining your company's legal standing.
Additionally, Companies House will be empowered to challenge and remove any inaccurate filings, and to more easily issue financial penalties for offences under the ECCTA or the Companies Act, leading to stricter requirements for maintaining accurate records.
The timelines set out above are subject to change, and the precise statutory obligations may only be known once the relevant statutory instruments are implemented. It is therefore highly recommended to take legal advice on these evolving obligations and how they may affect your company or future plans.
How we can help
We understand the challenges that startups face in an evolving regulatory environment. Our corporate team is here to guide you through the changes brought by the ECCTA and assist with company secretarial services, including guiding you through the options to enable identity verification, statutory registers and filing, ensuring that your company remains compliant at every stage.
For more information on how we can support your business with company secretarial services, feel free to get in touch with our team today by filing out the short enquiry form below or calling us on 0800 698 1700.
Related articles
How can we help?
To access legal support from just £149 per hour arrange your no-obligation consultation today. We aim to respond to all messages received within 24 hours.
Call 0800 689 1700 or email
enquiries@harperjames.co.uk.
