Upcoming changes to company law and Companies House requirements

As part of the reforms resulting from the Economic Crime and Corporate Transparency Act 2023 (the ECCA) which became law in October 2023, Companies House will have more powers in relation to its regulation of companies, including charitable companies and their trading subsidiaries.  These powers will include giving Companies House increased powers to ask questions on and challenge information submitted to it and to take enforcement action against companies.

Companies House has ntroduced changes to the confirmation statement on 4 March 2024, meaning that companies will need to:

• Provide a registered email address when they next file a confirmation statement (from 5 March 2024 onwards). Companies House will only use this email address to communicate with the company and will not make it available to the public.

• Confirm that the intended future activities of the company will be lawful. If Companies House then receives information confirming that the company is not being operated lawfully, it may take action. 

You can access guidance to further help you file your confirmation statement.

Other upcoming changes

 Companies House will also be making other changes to reflect the new law being introduced by the ECCA.  You can see a summary of all of the changes planned, which include:

• The introduction of new rules relating to registered office addresses which will mean that companies will no longer be able to use a PO Box as their registered office address. Charities (or their trading subsidiaries) which use a PO Box as their registered office address will need to have changed this by 4 March 2024.
• An increase in Companies House fees from 1 May 2024.
• Changes to the filing of accounts by software only meaning that it will not be possible for accounts to be filed in hard copy by post. This transition is planned to be implemented over a two to three year period (from 2023) in order to allow more efficient and secure filings for companies. There will also be proposed changes to small company accounts filing options, the detail of which is to follow from Companies House.
• A requirement for anyone setting up, running, owning or controlling a company in the UK will be required to verify their identity. The verification will either be directly via Companies House or through an 'authorised agent' such as a solicitor.
• Improving the transparency of data relating to the ownership of companies.

If you have any questions or would like to find out about our charity company secretarial services please Penelope Straker in our Charities team on 0117 314 5608, or complete the form below.