Companies House New Powers Take Effect Under the ECCT Act

Companies House announced the start of a phased roll-out of its new and enhanced powers, describing them as improving the quality and reliability of its data. It said it would prioritise cases where people's names and addresses have been used without their consent, and that reporting and removing misused personal information would become quicker and easier.

What changes for companies

From 4 March, Companies House has greater powers to query information and request supporting evidence, stronger checks on company names, and greater powers to tackle and remove factually inaccurate information from the register. All companies must have an appropriate registered office address at all times, and a PO Box can no longer be used.

Every company must also supply a registered email address. As Companies House explained in a January blog post, new companies give one when they incorporate, while existing companies give one when they file their next confirmation statement with a statement date from 5 March 2024. The email address is used by Companies House to contact the company and is not shown on the public register. Subscribers must confirm that a company is being formed for a lawful purpose, and existing companies must confirm on their confirmation statement that their intended future activities will be lawful.

Who is affected

The changes apply to all companies on the UK register, from start-ups to the subsidiaries of international groups. Companies currently using a PO Box as their registered office address need to change it, though a third-party agent's address can still be used if it meets the conditions for an appropriate address. Company secretaries and formation agents will need to update incorporation and filing processes to capture the new statements and email address.

What happens next

Other measures in the Act, including identity verification for directors and people with significant control and reforms to filed accounts, will be introduced over a longer period. Companies House has said it will publish more information on timings. In the meantime, groups with UK entities should check registered office arrangements, nominate a monitored email address for each company, and diarise their next confirmation statement dates.

Sources

• GOV.UK: Companies House begins phased roll out of new powers to tackle fraud
• Companies House blog: Get ready for changes to UK company law
• legislation.gov.uk: Economic Crime and Corporate Transparency Act 2023