In one of the most significant moments in our history, the Economic Crime and Corporate Transparency Bill has become law.
Once the measures come into force, Companies House will play a much greater role in disrupting economic crime and preventing abuse of the register, while supporting economic growth and ease of doing business in the UK.
Some of the measures include:
- introducing identity verification for all new and existing registered company directors, people with significant control, and those who file on behalf of companies
- broadening our powers to become a more active gatekeeper over company creation and a custodian of more reliable data
- improving the financial information on the register so that the register is more reliable and accurate, reflects the latest advancements in digital technology, and enables better business decisions
- providing Companies House with more effective investigation and enforcement powers, and increasing our ability to share relevant information with partners
- enhancing the protection of personal information to protect individuals from fraud and other harms
For more detail, visit Companies House
Source: Companies House