As part of the Economic Crime and Corporate Transparency Act we are seeing some Companies House changes to help with the quality of information available and to make sure adequate checks are in place for those owning or being an officer of a company. With names such as “Jesus Christ” and “Donald Duck” all apparently being listed as company directors the spotlight had been on Companies House to not only stamp out people abusing the corporate veil but to also be in a better, more powerful position to act when inevitably people try. In this blog post we take a look at those Companies House changes that have come into effect now and those that will be coming in over the next couple of years.

What Companies House changes have come into effect now?
On 4 March 2024 the following changes occurred:
- New rules were introduced for the company’s registered office address (which is usually also used as the service address of directors, company secretaries and persons with significant control). From 4 March an address must be one where:
- Documents sent there need to come to the attention of a person acting on behalf of the company, and
- Documents that go to the address can have an acknowledgement of the delivery recorded
These changes mean that companies can no longer use a PO Box as their registered office address.
- All companies are now required to provide a registered email address. This email address must be one that is monitored and that if used would come to the attention of someone acting on behalf of the company. It will not be shown on the public register but will be a means by which Companies House can communicate. For companies already incorporated this must be provided on the next confirmation statement filing occurring after 5 March 2024.
- Shareholders will have to give a lawful purpose statement when they incorporate the company. This will be extended to existing companies by a new statement on the confirmation statements filed after 5 March.
What Companies House changes are to come?
Annual accounts
Up to now small and micro companies have been able to file filleted accounts at Companies House. This meant the financial statements on public register were limited to just a balance sheet for micro companies with small companies also filing this with a few added notes. The Act removes this and small companies will need to file their accounts with a directors report and profit and loss report (the summary is permitted rather than the full detail). For micro companies they also need to file the summary profit and loss report and can choose whether or not to also add in a directors report.
This will undoubtedly spook a lot of company owners and directors who will face their trading results being on public view, meaning competitors can see their margins and have a much better gauge on their performance. The only comforting words to those worried is that they will be able to do the exact same thing on their competitors.
Identity verification
For anybody that has incorporated a company with us they will be aware of the need to supply ID documents prior to the company being incorporated. The Act will extend this for those people incorporating the company themselves directly with Companies House and also require existing company directors to do the same (this can be done via their accountants who are authorised company service providers).
Accounts filing
Companies can currently file accounts using the Companies House webfiling service or via the post, but the Act will remove these and mandate that company accounts can only be filed by software.
Veritons is registered with the Association of Chartered Certified Accountants (ACCA) meaning we operate to the highest ethical and quality standards. These high standards mean that our client sign up procedures encompass the additional requirements of the Economic Crime and Transparency Act, so our clients are safe in the knowledge that our compliance extends to their compliance. Whilst the greater disclosure in the annual accounts cannot be avoided, make sure your accountants are talking to you with regards to options you may have with regards to disclosure to ensure your company is not negatively impacted. We’re very happy to have a no obligation chat with you about your options, just hit the contact button below and provide your details and we will be in touch very soon.