Companies House is the Official UK register of companies. It maintains public records of corporate data and ensures transparency and compliance for the following types of registered entities:
- Private Limited Company (Ltd)
- Public Limited Company (PLC)
- Limited Liability Partnerships (LLP)
- Limited Partnerships (LP)
- Community Interest Company (CIC)
- UK Branches of overseas companies (if UK established)
Registration is not optional and there is no size limit for registration.
The Economic Crime and Corporate Transparency Act 2023 is a new act reforming the role that Companies House plays. The aim is to improve transparency and will affect all entities required to register with Companies House in the UK. This act will come into effect from Autumn 2025, and there are a number of initiatives being rolled out. Some of these have already been put into place.
What are the changes?
From Spring 2025
- All company directors and Persons with Significant Control (PSCs) will need to verify their identity to prove who they are. This will be a new legal requirement to prevent people using companies for illegal purposes.
- Any third-party providers that carry out these checks on behalf of clients will need to be registered as an Authorised Corporate Service Provider (ACSP).
From Spring/ Summer 2025
- Individuals will be able to apply to suppress personal information from historical documents
- Individuals at personal risk of harm or violence will also be able to apply to have information protected from public view
From Autumn 2025
- There will no longer be a requirement for companies to hold certain registers but this information must still be held on Companies House
- Companies will still be required to hold a register of shareholders
- Companies will no longer be able to elect to hold information about the company’s officers on the central register
From Spring 2026
- Limited partnerships will need to file their information through ACSPs and they’ll need to file more information with Companies House.
- Companies will have to record the full names of shareholders in their register of members and
- tell Companies House the full names of all shareholders and
- provide a one-off full shareholder list when they file their next confirmation statement
- Only UK corporate entities with ‘legal personality’ will be able to be appointed as corporate directors. The directors of these corporate entities must be natural persons and must verify their identity
From 1 July 2027
- All accounts filings after this date must be filed electronically using approved software. This will include dormant accounts.
- Companies will no longer be able to file abridged accounts. The current intention is that:
- Micro-entities will be required to file a copy of their balance sheet and profit and loss account
- Small companies will be required to file a copy of balance sheet, directors’ report, auditor’s report (unless exempt) and profit and loss account
- Any company claiming an audit exemption will need to give an enhanced statement from their directors on the balance sheet.
- Directors will need to specify which exemption is being claimed, and confirm that the company qualifies for the exemption.
- How many times a company can shorten its accounting reference period will be limited – a company will have to provide a business reason if it wants to shorten the period more than once within 5 years.
What you need to do
This is evolving and some may change, but Companies House is currently sending emails to all registered users to update them on the changes.
You need to be aware of them but in the majority of cases, nothing needs to be done immediately and, where we act for you, we will guide you through the various requirements at the appropriate time.
However, if you have multiple entries on Companies House, it would be worth making sure that they are all the same as your ID as they will need to match for official verification. If they do not match, we can help you to regularise them.
If you have any questions please talk to your usual contact but, if you would like us to provide advice on this or any other matter, please contact us.
