Changes to Companies House

This article will summarise the changes Companies House are making that us and our clients need to be aware of over the next few years.

Why is Companies House making changes?

Companies House is planning to implement changes to their system in response to the Economic Crime and Transparency Act.

Their aim is to have a more active, hands-on role in the investigation and verification of company information.

How will this affect you?

To achieve their goal of combating economic crime, providing more detailed information regarding company ownership will be required by our clients to ensure we are all cooperating with Companies House throughout this change.

At first glance, this could be seen as a lot of unnecessary red tape and time consuming for our legitimate law-abiding clients. However, with these additional checks, it is hoped that you and your companies will have greater security against fraud and other crime.

These changes have been long overdue by Companies House and it’s a step in the right direction for company security and decreased risk in the future.

What will be required of our clients and The Hutchinson Partnership?

1.   Confirmation Statements – From 4th March 2024

• Increase in Companies House filing fee
• Provide a registered email address
• A confirmation that your company will continue to remain lawful in your future activities.

2.   Identity Verification – From 8th April 2025 (Voluntarily)

• Each director and person with significant control will need to register an account with GOV.UK One.
• Verification required for anyone setting up, running, owning or controlling a company.
• Individuals can apply to suppress personal information from historical documents including residential addresses, signatures and date of birth. This is a voluntary application so if you choose to not do this there is a chance the above information will be available to the public.
• The compulsory verification date has not been set by Companies House. We will have more information in the future.

3.   Suppression of personal information – From 27th January 2025

• Individuals can apply to suppress personal information from historical documents including residential addresses, signatures and date of birth. This is a voluntary application for those who believe this information puts them at risk.

4.   Small and micro company accounts filing – no start date yet

• Will need to file their profit or loss accounts and a director’s report for small companies only. Secondary legislation that has not been released yet will confirm the level of detail required. We will know more about this when they release the information

The changes are planned to be introduced incrementally throughout the coming year and 2026.

The Hutchinson Partnership will be aware of key dates when they’re released and will relay this information to our clients to make the process as easy and timely as possible.