Companies House – Once in a generation changes: The Economic Crime and Corporate Transparency Act
Following the Economic Crime and Corporate Transparency Act receiving royal assent on 26 October 2023, Companies House are gearing up to implement the biggest changes in their history. There have been no changes on this scale since it’s inception in the 1800’s!
Some of the changes the industry has been crying out for – are now within touching distance. The Team at Companies house are working to a go live of Spring 2024
The ECCTA aims to improve the accuracy and quality of the data, help tackle economic crime and drive confidence in the UK economy.
What will the act introduce?
The act will introduce new statutory objectives for Companies House, which are:
- Ensure that anyone who is required to deliver a document to the registrar does so (and that the requirements for proper delivery are complied with)
- Ensure information contained in the register is accurate and that the register contains everything it ought to contain.
- Ensure that records kept by the registrar do not create a false or misleading impression to members of the public.
- Prevent companies and others from carrying out unlawful activities or facilitating the carrying out by others of unlawful activities.
(These objectives also apply to the Registrar of Companies for Scotland and the Registrar of Companies for Northern Ireland.)
Where to find more information on the Economic Crime and Corporate Transparency Act
Companies House have launched a new website specifically relating to the ECCTA and the deliverables for Companies House and we highly recommend that you visit it.
