Companies House changes - what is the ECCTA?

On 26 October 2023, the long anticipated Economic Crime and Corporate Transparency Act (or 'ECCTA') was passed into law.

This key piece of legislation provides for reforms to the role of Companies House.

The reform is intended to improve transparency over UK companies and other legal entities in order to strengthen the business environment, support national security and combat economic crime.

Immediate changes include:

1. An ability for Companies House to query information submitted or already on the register;
   

2. The addition of a registered email address and a 'statement of lawfulness' to the annual confirmation statements;
   

3. A prohibition on using PO Boxes as a registered offices; and
   

4. Increased filing fees. See Companies House fees increasing from 1 May 2024 - GOV.UK (www.gov.uk)

Changes on the horizon include:

1. Identity verification for all new and existing company directors, PSCs and individuals who are Authorised Corporate Service Providers (ACSPs), and those delivering documents to Companies House;
   

2. Amendments to the Statutory Registers required to be kept by all companies. In particular, the ECCTA Act introduces:

   1. "required information" for shareholders' including forename, surname and service address;

   2. The abolition of the requirement on a company to keep its own: Instead, such information will need to be notified to Companies House
      

      1. register of directors

      2. register of directors' residential addresses;

      3. register of secretaries; and

      4. PSC register.
         

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