There are new identity verification requirements from Companies House under the Economic Crime and Corporate Transparency Act 2023 (ECCTA) for business owners to consider.
Identity verification
Under the ECCTA, it is a legal requirement for company directors, people with significant control (PSCs), and some others to verify their identity with Companies House. This is being phased in over time. At a later date, those filing for a company (such as company secretaries); limited partnerships; corporate directors of companies; and officers of corporate PSCs will also need to verify their identity. These rules will also apply to both individual members and corporate members of limited liability partnerships (LLPs).
It will not be possible to file the confirmation statement unless all directors have verified their identity, with the requirement to verify kicks in over the 12 months from 18 November 2025 for directors and PSCs. It will constitute an offence to continue to act as a director or PSC without verification, with the company also at risk of being in breach of the law.
Verification can be carried out online on GOV.UK One Login, or through an Authorised Corporate Service Provider. You should receive a Companies House personal code as a unique identifier when it is completed. The code is personal to you (rather than the company) and should be kept securely.
Latest on filing accounts
The planned change to all accounts needing to be filed with Companies House via commercial software will now not take effect from April 2027 as originally planned. New filing requirements for micro entities and small companies, along with the removal of the option to file abridged accounts will also not go ahead on the planned timescale. The reforms are being kept under review, with a final decision expected soon. Companies will be given a minimum of 21 months’ notice to prepare.
Late filing
Penalties for late filing of Corporation Tax returns have effectively doubled across the board, with the size of penalty depending on how late a return is and whether or not there are repeated failures to file on time. These new penalties apply to returns with filing dates from 1 April 2026 onwards. For returns filed late, the penalty has increased from £100 to £200, while the penalty for returns that were more than three months late previously has increased from £200 to £400.
Contact us today if you’d like to talk through how these changes could affect you and your business.
