What is Changing and Why?
To continue implementing the changes outlined in The Economic Crime and Corporate Transparency Act (ECCTA), Companies House have issued new rules, regulations and standards for a Limited Company and its officers (Directors, Persons of Significant Control (PSCs), including Shareholders who hold a more than 25% of the shareholding for a company).
Some of these changes have already been introduced, including:
- Using an appropriate address as a registered office for your company.
- Using an official company email address for your company.
- Agreeing, on behalf of your company, that you and the company are acting lawfully.
Further changes are being introduced from March 2025.
Companies House will have begun emailing and writing to you about these changes.
These include:
- Identity verification of all Directors, PSCs and Shareholders for a company for both EXISITING and NEW companies.
- Identify verification will be available from 8th April 2025.
Are there any implications of not complying with the changes?
Currently, there are no deadlines or financial penalties in place for failure to complete identity verification, however, Companies House have stated:
“In the future, identity verification will become compulsory. From this point, if you or any other directors do not comply with identity verification requirements on time, you’ll be committing an offence and will not be able to make any filings for your company. There’ll be a range of consequences, including a financial penalty and being unable to start a new company. “
How do I complete identity verification for my company?
Companies House have said that they will provide the ability for officers of a company to complete their identity verification directly.
They also announced that Accountants and other professional service providers are able to register as an Authorised Corporate Service Provider (ASCP) and complete the identity verification on a clients behalf, instead of them having to do this directly with Companies House.
Calculated are now an ACSP.
Please note: Companies House have not, as yet, provided detailed guidelines on how the direct verification facility or ASCP verification will work, only that it will be available from 8th April 2025. We will keep you updated and be in touch as soon as we know more.
Changes coming up in 2026.
Companies House have announced that the current online accounts and Company Tax Return service is closing on 31 March 2026. They are introducing filing by software only.
If you have a dormant company and you file your own accounts via this service, please get in touch. We can file dormant company accounts on your behalf.
What do I have to do NOW?
Right now, continue to ensure all details are kept up to date on your company records at Companies House. This includes:
- Ensuring your registered office address is correct.
- Ensuring your registered email address is correct.
- Ensuring the information about your Directors, PSCs and Shareholders is correct.
If you are a client, we will ask you to confirm all of the above before filing your Annual Confirmation statement, but you are legally required to update Companies House within 14 days if any of the above changes. We can make these changes on your behalf.
Further guidance can be found on the changes you need to report can be found at Gov.uk.
We will let you know when anything further needs to be done.
We are sending this email out to you for information as you have expressed an interest in property investment and many investors choose to invest through a limited company.
As always, if you have any questions, please contact us at hello@calculateduk.com.
