Economic Crime and Transparency Act 2023
Under the Economic Crime and Transparency Act 2023, there are some changes to procedures at Companies House. These are being phased in.
From 4th March 2024 (subject to Secondary Legislation being approved):
- PO Boxes can no longer be used as Registered Offices – there must be a “Appropriate Address” where:
- any documents sent to the registered office should be expected to come to the attention of a person acting on behalf of the company
- any documents sent to that address can be recorded by an acknowledgement of delivery
- All Companies must supply an email address – if there is not one listed then it will need to be included on the next annual Confirmation Statement. The email address will not be listed publicly.
- All Companies must make a “Statement of Lawful Purpose”, confirming current and future activities will be lawful. Again for existing companies this will need to be updated on the next Confirmation Statement.
Its tempting to ask to what with all of this? Companies House have long rejected PO Boxes as Registered Offices, and I’m not sure a Money Launderer is going to be put off by ticking a Lawful Activities Box!
At a later date, to be announced, under the same act, we are expecting:
- Requirements to verify the ID of all directors and filers for a company
- Changes to accounting requirements including more detailed accounts. This will include small companies filing full Profit and Loss Accounts,but it is not yet clear whether these will then be published for public search.
Companies House Fees
Last week it was announced some Companies House fees are changing from 1st May 2024. Notable changes are:
- Incorporation – from £10 to £50
- Confirmation Statement – from £13 to £34
- Change of Name – £8 to £20
- Strike off – £8 to £33
The above are fees for Digital filing – paper filing is more expensive.
These fees will impact the charges we make to clients for Company Formations and Confirmation Statements.