Business owners, directors and agents need to stay informed and compliant. From March 2024, Companies House began rolling out a significant set of reforms under the Economic Crime and Corporate Transparency (ECCT) Act, with further changes coming soon.
We have put together a handy breakdown of what you need to know and how to prepare.
What changed in March 2024?
As of the 4th of March 2024, Companies House introduced new legal requirements around company addresses and communications.
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Registered Office addresses: All companies must now maintain an “appropriate address” at all times. This means that the address must be accessible to receive official documents, and someone must be available to acknowledge delivery.
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Registered email address: Every company must also provide a registered email address for official communication. Companies House will use this to send statutory notices and updates.
Failure to comply with either of these requirements can result in enforcement action against both the company and its officers. Make sure your contact information is up to date to avoid unnecessary penalties or disruptions.
New financial penalties
From October 2024, Companies House began issuing financial penalties for non-compliance. For example, if a company fails to file its confirmation statement on time. More penalty powers are set to be introduced in line with upcoming changes.
If your company relies on regular reminders, sign up for email alerts to ensure you never miss a deadline.
Identity verification is coming
Perhaps the most significant upcoming change is the introduction of identity verification for anyone involved in forming, running, or controlling a UK company. This includes:
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Company directors
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People with Significant Control (PSCs)
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Anyone setting up a company
Verification will be done either via the GOV.UK’s One Login system or through an Authorised Corporate Service Provider (ACSP), such as an accountant or agent registered with Companies House.
To get ready for these changes, ensure all officers’ and PSCs details are accurate and up to date.
Mismatches between identity documents and Companies House records could block the verification process.
Once mandatory, failure to verify will be a criminal offence.
What are ACSPs, and how do they help?
ACSPs will be able to conduct identity checks on behalf of clients and handle filings with Companies House.
Haines Watts, like many other Haines Watts branches across the UK, have begun the process of their application in order to assist clients in the future.
This registration is vital for agents who plan to continue providing company formation and compliance services under the new regime.
If you need help completing identity checks, you can get in touch with our team, who will be more than happy to assist you.
Changes to filing accounts, prepare for software-only
Another major change is the closure of the joint Companies House/HMRC online filing services for accounts and Company Tax Returns by the 31st March 2026.
From then on, filing will be via software only. Most businesses can already make the transition now, and Companies House has provided a tool to help you find suitable software, which is linked here.
Companies will be given at least 21 months' notice before the current system shuts down, but planning early is advisable to avoid any last-minute issues.
We're here when you need us
The changes being implemented by Companies House are significant and, for many businesses, complex. We’re here to guide you through each step, whether it’s ensuring your details are compliant, preparing for identity verification, or supporting your transition to software-only filing.
If you’re unsure how these changes impact your business, get in touch with our team today.
