Companies House Webinar: Changes to UK Company Law

Companies House has recently hosted a webinar titled ‘Get ready for changes to UK Company Law’. This webinar is a summary of upcoming changes introduced by the Economic Crime and Corporate Transparency Act 2023 (legislation.gov.uk)

Click Companies House webinars - GOV.UK (www.gov.uk)  and scroll down to register to access the recording.

Summary of key changes

Changes will be introduced in a phased approach over the next few years. The first set of changes are effective 4 March 2024 and include:

• New rules for registered office addresses
  • PO Box may not be used as an appropriate address.
• New requirement to provide a registered email address:
  • New companies will be asked to provide this upon incorporation.
  • Existing companies will need to provide their registered email address when they file their next confirmation statement.
• Lawful purpose statement
  • Shareholders of new companies will be required to make this statement upon incorporation.
  • Existing companies will make their lawful purpose statement in next confirmation statement.
• Companies House Registrars will have greater powers to query and challenge information.

Future Changes

• Companies House Fees will increase from 1^st May 2024.
• Streamlining accounts filing options for small and micro entity companies
• Software only filing.
• Making limited partnership information more accessible and transparent
• Enhance protection for personal information to protect individuals.

Guidance

The UK Government has developed a website providing helpful information on the various changes to UK company law being introduced over the next few years.