The Economic Crime and Corporate Transparency Act (the “Act”) has introduced a number of reforms to Companies House in March this year.

One of the Act’s aims is to improve corporate transparency and enhance the role of Companies House. A few of the key changes are a new identity verification process, changes to company confirmation statements and an increase in Companies House fees.

Identity Verification

Aim	To deter from using companies for illegal purposes.
Who needs to verify their identity?	New companies: All directors and people with significant control ("PSCs") Limited availability partnerships: Any members Existing companies: All directors and PSCs (although, there will be a transition period for existing companies to verify the identities). Additionally, to be able to file information at Companies House, any individuals acting on behalf of a company must verify their identities.
Who can verify?	Through Companies House: A service will be put in place by which individuals can verify their identity on Companies House using their ID documents (e.g. their passport). Through an Authorised Agent: The verification checks can be through Companies House authorised agents known as Authorised Corporate Service Providers which include: Company formation agents; Solicitors; and Accountants. Note: Companies House will publish guidance on the identity verification requirements for such Authorised Corporate Service Providers.

Confirmation Statement Changes

Registered email addresses	All Companies will need to provide a registered email address. This email address will be used to communicate with the company, but it will not be publicly available. New Companies: From 4 March 2024 onward, new companies must provide an email address when they incorporate. Existing Companies: Must provide an email address when their next confirmation statement is filed from 5 March 2023 onward.
Statement to confirm the company is lawful	From March 2024 onward, when filing a confirmation statement each year, all companies will need to confirm that the intended future activities of the company will be lawful.