Directors to face identity checks under Companies House reforms
Companies House has published further guidance on the introduction of mandatory identity verification for company directors and other individuals involved in company filings. The change forms part of the reforms introduced by the Economic Crime and Corporate Transparency Act 2023. What do you need to know?
Under the new regime, company directors, people with significant control and individuals who file documents at Companies House will be required to verify their identity. The aim is to improve the accuracy of the Companies House register and prevent misuse of company structures for fraud and other economic crime. Identity verification will be possible in two ways. You will be able to complete the process directly through Companies House using its digital verification system, or you can verify your identity through an authorised corporate service provider, such as an accountant or company formation agent.
The verification requirement will be introduced in stages. Once the system is fully implemented, new directors will need to complete identity verification before their appointment can be registered. Existing directors will be given a transition period to comply with the new rules. For business owners, the practical impact is that company filings will increasingly be tied to verified identities. Directors who fail to complete the process may find they are unable to make filings or act for the company through the Companies House system. You should therefore monitor Companies House guidance and announcements and ensure directors are prepared for the new verification requirements.
Related Topics
-
Should you voluntarily payroll benefits in kind?
The window to sign up to voluntarily payroll non-mandatory benefits in kind for 2027/28 will open in November. Is it worth volunteering to pay HMRC earlier than required or should you wait until it becomes mandatory in 2028/29?
-
Wise tax statement errors could affect 4,000 customers
Around 4,000 UK customers of financial services provider Wise have been told that tax statements issued between 2021 and 2025 contained incorrect figures. The errors could have resulted in taxpayers paying too much or too little income tax and capital gains tax (CGT). What should affected customers check?
-
CT61