Are you up to date with the latest from Companies House? As of 4 March 2024, the executive agency of the Department for Business and Trade introduced the first set of changes brought in by the Economic Crime and Corporate Transparency Act.
The Act brings in the ‘biggest changes to Companies House since corporate registrations were established in 1844’, and will enable the government to ‘play a much stronger role in making the UK a great place to do business’.
What can you expect from the changes then?
First, the rules surrounding ‘appropriate addresses’ are set to evolve, with Companies House releasing new information which could spell significant change for some UK businesses.
For example, PO boxes aren’t regarded as appropriate addresses, which means those that use one within their company may be impacted.
The development, suggests the Gov.UK site, aims to improve the ‘accuracy and reliability of registered office addresses’. If companies do not provide an appropriate address within a specified time period, the government can begin strike off measures against them.
A company (and its officers) may be committing an offence if their registered office address is not an appropriate address. Companies House have a right, therefore, to alter the registered office of all companies registered at that address (to the Companies House default address). These could lead to those companies being struck off the register.
For parties who have marketed and sold registered office services to their customers, there may also be reputational consequences, if the services don’t meet appropriate address requirements.
The Act also covers rules around transparency with regard to company ownership, changes to the requirements for identity verification, and the need for information about limited partnerships (LPs) to become more accessible and transparent.
Have any questions about our registered office services specifically? If so, do not hesitate to contact our friendly team here at Arnold Hill & Co.
In the meantime, you can find more details about how we can help (including updating business names and registered office addresses, and providing registered office addresses and ensuring correspondence is tended to promptly) via our secretarial services page.
About Arnold Hill & Co LLP
Arnold Hill & Co LLP is an accountancy and tax firm who have been delivering tailored accountancy services for over a century. Based in the heart of London, the firm is built on strong, lasting relationships and combine tradition with a forward thinking approach to meet the evolving needs of clients, both across the UK and internationally. The firm advise a range of clients ranging from UHNWI’s, family offices and entrepreneurs to growing businesses and multinational groups.
Leanne Konopka - Partner
