Progress as Companies House Reforms Target Economic Crime

Companies House is undergoing a major transformation following the introduction of the Economic Crime and Corporate Transparency Act 2023 (ECCTA).

Backed by new legislative powers, the agency is shifting from a passive registrar to an active gatekeeper - taking direct action against fraud, money laundering, and misuse of the UK’s corporate framework.

A newly published progress report highlights the scale and impact of this reform so far. Key achievements include:

• Querying or removing misleading or false information affecting over 100,000 companies.
• Blocking over 10,000 suspicious company applications, including mass incorporations at single addresses - a known red flag for money laundering.
• Supporting law enforcement efforts to identify around £50 million in UK property tied to organised crime.
• Collaborating internationally in Europol’s Asset Sprint to help seize criminal assets globally.
• Issuing around 850 intelligence reports to UK law enforcement agencies using new internal capabilities.

Mandatory Identity Verification

The changes being brought about by the ECCTA mark a new era of corporate regulation in the UK. While the new measures are primarily aimed at deterring criminal activity, they also raise the bar for all companies in terms of compliance and the accuracy of information filed with Companies House.

A key upcoming development is mandatory identity verification for company directors and persons with significant control (PSCs) - this is expected to become mandatory by autumn 2025. However, Companies House have already begun contacting many companies to encourage voluntarily starting the process early.

How We Can Help

Our company secretarial services are designed to help businesses stay compliant and adapt to these evolving requirements with confidence. Whether you need support with director and PSC filings, maintaining statutory registers, or preparing for the upcoming identity verification rules, we can help you stay on the right side of regulation while focusing on what matters most - running your business.

If you're concerned about how these changes may affect your company, or simply want to ensure you're fully prepared, get in touch with our team today. We will be happy to help you!

See: https://www.gov.uk/government/news/new-powers-yield-real-world-impact-in-companies-house-economic-crime-crackdown

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