Over the next few years Companies House endeavours to clean up the register by identifying and removing inaccurate information, giving them greater powers to query information and request supporting evidence from new and existing businesses. Companies House will be carrying out stronger checks on company names and email addresses.
New identification verification procedures are being put in place for anyone setting up, running, owning or controlling a company in the UK.
Today’s blog will cover 3 changes that have already come into effect, with more set to be implemented in the coming future!
1. Statement of Lawful Purpose
When you incorporate a company shareholders will now be required to confirm they are forming the company for a lawful purpose. You will also need to confirm the company’s intended future activities are lawful on the confirmation statement.
2. Confirmation Statements
There is a new requirement for all companies to give a registered email address to Companies House. This email address will not be published on the public register. This applies to new companies when they incorporate, and existing companies when they file their next confirmation statement from 5th March 2024.
Not only this, but the price of filing Confirmation statements has risen this year from £13 to £34.
They have also increased the fee required to incorporate a company from £12 to £50.
3. Online filing and accounts
Over the next few years there will be a phased transition to filing company accounts online only.
Additionally, small and micro entity companies may be required to file profit and loss accounts, and small companies that are not classified as micro entities may also need to file a directors’ report.
There will also no longer be the option to file “abridged” accounts either.
There are new rules for registered office addresses which mean companies must have an ‘appropriate address’ as their registered office at all times. These changes mean you will not be able to use a PO Box as your registered office address.
These changes are to ensure that more thorough checks are being carried out for businesses registering and filing information with Companies House. There are more changes on the horizon too, so make sure you’re up to date by following our Instagram (@futurecloudacc) and getting in contact with us for any queries you may have (info@future-cloud.co.uk.)
References – https://companieshouse.blog.gov.uk/2024/01/22/get-ready-for-changes-to-uk-company-law/
