New year, new rules

Last October, the Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent. The key objective of ECCTA is to prevent crime and support business and last week it was announced that certain Companies House changes will be implemented in March of this year as a result of the introduction of ECCTA.

Imminent changes include the requirement for companies to provide Companies House with a registered email address and to confirm in their Confirmation Statements that their activities are lawful. Further changes (with implementation dates to be confirmed) include requiring all company accounts to be filed online, the abolition of abridged accounts and small/micro-entities needing to file their profit and loss accounts. Companies House fees are also expected to increase at some point, which will be the first increase in over 5 years.

The changes expected as part of ECCTA are varied and aim to make matters more efficient and secure, only time will tell if this works.  The government has published the following guidance https://changestoukcompanylaw.campaign.gov.uk