Companies House Reforms Update

We will continue to monitor and provide an update on Companies House reforms when the implementation dates are announced.

Companies House has now provided a timetable as follows for the changes that were introduced on 26 October 2023 when the Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal assent.

Companies House reforms with effect from March 2024

1. Confirmation statements – when submitting confirmation statements that company will be required to:
   1. confirm that the future activities of the company will be lawful.
   2. provide a registered email address – it will not be made publicly available and will use this email to communicate with the company.

2. Registered office address
   1. Companies can no longer use a PO Box as a registered address.
   2. Companies are required to have an ‘appropriate’ registered office address. Some serviced offices may not meet this requirement.
   3. The company will be subject to enforcement and penalties as below if the registered address is not ‘appropriate’.

3. Companies House will have additional powers to enforce and challenge documents filed. There will be serious consequences for the Company if their records are not up to date or accurate which include penalties, prosecution and an annotation on the company’s record.

To be introduced during 2024

1. All directors and PSCs will be required to verify their identity with Companies House.

To be phased in over the next 2 to 3 years

1. Filing of accounts – Companies will be required to file their accounts through commercial software. Accounts will no longer be able to be submitted by post and will no longer be able to be submitted through the usual portal.

Implementation date still to be confirmed

1. Profit and loss accounts will now need to be filed at Companies House by micro and small companies. Previously these companies could file filleted accounts and keep profit and loss information (including turnover) off public record. The option to file filleted accounts will be removed.
2. Audit exemption statement by directors. Directors will be required to specifically confirm that the company meets the qualifying criteria to claim the audit exemption.
3. Increased transparency of company ownership Improving transparency of company ownership – Changes to UK company law
   1. Full names of individuals and companies will need to be included in the company registers and a full shareholder list provided to Companies House
   2. PSC (Person with significant control) – additional information will be collected and made publicly available at Companies House
   3. Corporate directors – These will be restricted to UK corporates.
4. Identification verification with Companies House will be introduced for registered company directors, people with significant control and those who file on behalf of companies. This will either need to be done directly through Companies House or through an Authorised Corporate Service Provider (ACSP). Find out more in identity verification