Changes to UK Company Law in effect from today

In a bid to increase transparency of UK companies and stop abuse of the register, Companies House is set to roll out the first round of updates to the filing process which include stronger checks on company names and new rules for registered office addresses.

Following the Economic Crime and Corporate Transparency Act becoming law in October, the changes are in effect from 4 March 2024.

To help you prepare, the main changes include:

• greater powers to query information and request supporting evidence
• stronger checks on company names
• new rules for registered office addresses (all companies must have an appropriate address at all times – they will not be able to use a PO Box as their registered office address)
• a requirement for all companies to supply a registered email address
• a requirement for subscribers to confirm they’re forming a company for a lawful purpose when they incorporate, and for a company to confirm its intended future activities will be lawful on its confirmation statement
• greater powers to tackle and remove factually inaccurate information
• the ability to share data with other government departments and law enforcement agencies

Below is further information on how these changes affect you and your business, and what your accountant can help you with.

As mentioned, one of the most important changes to be aware of will be to a company’s registered office addresses.

A company will now be required to have an ‘appropriate address’ when they file. Any document sent to it should be for attention of a person acting on behalf of the company.

This means that going forward, companies are unable to use a PO Box and must update their address by 4^th March 2024. They can still use a third-party address but only if they are able to meet the requirements stated above.

Any changes will need to be made using the company’s authentication code and anyone who does not comply risks being struck off.

There will now also be a requirement to provide a registered email address for the first time.

From 4^th March, companies will have to give a registered email when they incorporate, while existing businesses will have to provide an email and any other updates when they next submit a confirmation statement.

Some of the motivation behind the new rules is to improve the data Companies House has access to so these are likely just the first steps in cleaning up the register.

Further details of the changes coming into effect from the 4th of March can be found here on the GOV.UK blog post.

If you have any questions for us about the above, please get in touch at advice@r-m-t.co.uk or call 0191 256 9500.