Get Ready, For Companies House Is A Changin’

1. Identity Verification

• Mandatory Verification: All new and existing company directors, Persons with Significant Control (PSCs), and individuals filing documents with Companies House are required to verify their identity. This measure aims to prevent the registration of fictitious directors and enhance the reliability of corporate data.
  
  
• Verification Process: Individuals can verify their identity directly through Companies House or via an Authorised Corporate Service Provider (ACSP). The process typically involves linking a person to a primary identity document, such as a passport or driving licence, and may include electronic likeness matching.
  
  

2. Authorised Corporate Service Providers (ACSPs)

• Registration Requirement: Third-party agents, including accountants, legal professionals, and company formation agents, must register as ACSPs to file information on behalf of clients.

To qualify, they must:

1. Be based in the UK.
2. Be supervised by a UK anti-money laundering (AML) supervisory body.
3. Register with Companies House and provide their AML supervisory body membership number.
   
   

• Responsibilities: ACSPs are required to verify the identities of their clients to the same standard as direct verification and retain records of these checks.

  Companies House has the authority to suspend or revoke an ACSP’s registration if they fail to comply with the required standards.
  
  

3. Financial Penalties and Enforcement

• Late Filing Penalties: Companies House imposes financial penalties for the late submission of accounts, with fines ranging from £150 to £15,000, depending on the length of the delay.

  It is worth noting, however, that reports indicate that less than half of these fines were collected in the 2023/24 period, highlighting challenges in enforcement.
  
  

• Enhanced Powers: Companies House has historically accepted all submissions in good faith. Due to widespread abuse of the system, the changes will provide Companies House with greater authority to scrutinise, query and reject information, request supporting evidence, and share data with other government departments and law enforcement agencies to tackle fraud and inaccuracies.

  New criminal offences and civil penalties have been introduced to complement these measures.
  
  

4. Changes to Company Accounts

• Registered Office Address: All companies are now required to have an appropriate registered office address at all times; the use of PO Box addresses is no longer permitted.
  
  
• Registered Email Address: Companies must supply a registered email address to facilitate communication with Companies House.
  
  
• Lawful Purpose Confirmation: Upon incorporation and during the annual confirmation statement, companies must confirm that they are forming and operating for lawful purposes.
  
  
• Filing Company Accounts and Tax Returns: Another notable change is the planned closure of the joint online filing service for company accounts and tax returns, which will take effect on 31 March 2026.

  This service currently allows companies to file both their annual accounts with Companies House and their Company Tax Returns with HM Revenue & Customs (HMRC) simultaneously.

  After this date, companies will need to adopt alternative filing methods.