Companies House, the agency who oversee company registrations, intend on rolling out several changes, planned from March.
In general
Companies House are making the changes to focus on ensuring accurate information is held on the register and ensure documents delivered are compliant and accurate. This is intended to prevent misleading public records and thwart unlawful company activities.
They will be given more power to inspect and reject information they believe is incorrect, enforce stronger checks on company names and addresses, and ensure that companies are formed for lawful purposes.
What to expect
Simplified filing
For micro-entities and small companies, the option for ‘abridged or filleted’ accounts will be removed. This means all small companies must file a balance sheet, profit and loss account and also (unless a micro-entity) a director’s report.
Dormant companies will need to file an ‘eligibility statement’ confirming they are not trading.
Identity Checks
New and existing company directors, PSCs and those filing on behalf of companies e.g. your accountant or legal representative will require for their identity to be checked and verified.
Company Email Address
All companies will need to provide and maintain a non-public “appropriate e-mail address” where messages can reach a person acting on behalf of the company. This may also apply to non-trading companies.
Filing & Fees
Anyone filing on behalf of a company e.g. your company secretary or accountant, will need to be authorised by Companies House to do so.
Companies House will increase some fees from early 2024, but they will still be among the lowest worldwide.
Here at Elevate, we are happy to help support you with these changes and will send more updates as roll out dates and activities are confirmed and if these changes affect you, what you need to do.
