The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) represents one of the most significant shifts in company regulation in a generation. It empowers Companies House to move from a passive filing service to an active regulator – one able to challenge, reject, and even remove inaccurate or misleading company data.
For businesses and their advisers, this means a new era of transparency, accountability, and enforcement.
Why is this Happening?
The aim is simple: to make the UK a safer, more trusted place to do business. The changes seek to:
- Tackle economic crime
- Ensure company information is accurate and reliable
- Protect personal data
- Give the public greater confidence in UK-registered businesses
Companies House now has powers to impose fines, annotate public records, and prosecute non-compliant companies or their officers.
The Registrar’s New Objectives
Across the UK, Registrars now have clear goals to:
- Record who is filing information for each company
- Ensure documents are properly delivered
- Maintain a complete and accurate register
- Remove false or misleading information
- Prevent unlawful activity being carried out through UK companies
Click here to see the full "Go Live" phases
What’s Already in Force?
Some changes are already law, including:
- Companies must have a genuine registered office (no PO Boxes)
- All companies must have a registered email address
- A lawful purpose must be declared on formation and confirmed annually
- Names containing misleading terms or computer code can be rejected
- Residential addresses used as registered offices can be suppressed if used improperly
- New powers to expedite the strike off companies if suspected of fraud
- Sanctions and financial penalties can now be imposed directly by Companies House
- Voluntary ID submission for directors, PSCs, companies secretaries and LLP members has begun
- Fees were increased in May 2024 to fund the reforms with an annual review
What’s Coming – and When?
Click here to see the key milestones
The Bigger Picture: What This Means for You
From 18th November 2025 onwards, ID verification will become mandatory for directors, PSCs, company secretaries and LLP members, and your company’s ability to file a confirmation statement will depend on this step being completed.
Other important developments include:
- Enhanced scrutiny of data (Companies House will reject fraudulent or suspicious filings)
- Greater public visibility of shareholder and director information
- Enforcement of ID checks for corporate directors and new LPs
If you haven’t already, now is the time to get prepared. Start reviewing who needs to verify, how you’ll manage compliance, and what company records will need to be updated.
What’s Next from BPE?
We’ll soon be publishing a dedicated guide to ID verification for directors and PSCs, including:
- Who needs to verify
- Verification options
- Accepted forms of ID
- Consequences of non-compliance
In the meantime, if you have questions about how ECCTA affects your company, get in touch with the Corporate team at BPE Solicitors by using our contact form or by calling 01242 224433.
