Changes to UK Company Law coming – 4rd March 2024
Home > Changes to UK Company Law coming – 4rd March 2024

Upcoming UK Company Law Changes

On March 4th, 2024, the first set of reforms under the Economic Crime and Corporate Transparency Act (ECCTA) come into effect, marking a significant shift in company law. These changes aim to enhance transparency, combat economic crime, and ultimately create a more robust business environment for all.

Key Changes Taking Effect on March 4th:

1. Registered Office Address: Gone are the days of relying solely on virtual offices. Companies will now be required to maintain a “physical and deliverable” registered office address. This means having a tangible location where official documents can be received and acknowledged. This change ensures that important information reaches the appropriate individuals within the company, promoting greater accountability and transparency.

2. Registered Email Address: For the first time, all companies will need to provide a dedicated registered email address to Companies House. This secure communication channel will be used for official correspondence, such as notices and updates. Importantly, this email address will not be publicly accessible, safeguarding sensitive information.

Looking Ahead: Further Changes on the Horizon:

Here’s what to expect in the coming months:

  • Identity Verification: A crucial aspect of the changes is the introduction of mandatory identity verification for company directors, individuals with significant control (PSCs), and anyone filing on behalf of companies. This measure aims to deter individuals from using companies for fraudulent purposes and enhance the overall transparency of the corporate landscape.
  • Enhanced PSC Register: The existing Persons with Significant Control (PSC) register will be strengthened, requiring companies to provide more detailed information about their ultimate beneficial owners. This will improve public access to ownership information, aiding in investigations and deterring criminal activity.

What do I need to do?

While these changes might seem complex, proactive steps can ensure a smooth transition for your business:

  • Review your registered office address: Confirm that it meets the new requirements and update Companies House if necessary.
  • Set up a dedicated email address: Choose a secure email address solely for official communication with Companies House.

The full details from Companies House are here

If you have any questions about this, or any other help available, please get in touch

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