Are you ready for the regulatory shakeup at Companies House?

You will no doubt be aware that Companies House's power and reach are being dramatically extended as a consequence of the Economic Crime and Corporate Transparency Act 2023. In what is, in effect, the most significant reorganisation in its 180-year history, this vital organisation will now take a more proactive approach to company operations and the filing of reports, accounts, and additional information.

Areas covered by the new legislation

The first phase of the changes to Companies House came in on 4 March 2024, although more changes are planned for the future. These relate to the following:-

• Accuracy of filings and information held on the Companies House register
• The ability for Companies House to request more information
• Power to actively pursue non-compliance and inconsistencies
• Removal of inaccurate/misleading data from registers

There are also changes with regards to:-

• Office and contact details
• Company activities
• Company names
• Directors and disqualifications
• Limited liability partnerships
• Company filings

Looking further forward, we can also expect changes with regards to:-

• Accuracy and the use of reported information
• Enhanced powers of the registrar

Dramatic changes but not unexpected

Thankfully, many of the proposed changes at Companies House will be introduced on a staggered basis, allowing the organisation, companies, and directors to adjust to their changing obligations. As Companies House is central to company filings, additional information, and director records, it makes sense to give this important body more power and influence. It will be interesting to see how this enhanced power is used!

Summary

We have published an in-depth article on our website about ongoing changes at Companies House (link to the article). As a director, shareholder, or company owner, it's important to be aware of the changes and your liabilities going forward. While there have been a number of significant changes already, with more in the pipeline, the enhanced power of Companies House will have the greatest impact in the future.?

If you have any questions or queries about the changes, please contact us, and we can discuss your situation in more detail.