These include new identity verification requirements from Companies House under the Economic Crime and Corporate Transparency Act 2023 (ECCTA).
Identity verification: The ECCTA makes it a legal requirement for company directors, people with significant control (PSCs), and some others to verify their identity with Companies House.
Requirements are being phased in over time, and 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. The rules will also impact limited liability partnerships (LLPs), both individual members and corporate members, and we can advise further here.
For directors and PSCs, the requirement to verify kicks in over the 12 months from 18 November 2025, and it will not be possible to file the confirmation statement unless all directors have verified their identity. Continuing to act as a director or PSC without verification will constitute an offence, and the company could also be 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.
Filing accounts: latest position: Under the ECCTA, the requirement for all accounts to be filed with Companies House via commercial software was due to take effect from April 2027. So, too, were new filing requirements for micro entities and small companies, and the removal of the option to file abridged accounts.
However, change will not now take place on this timescale, and the reforms are being kept under review. A final decision is expected shortly, and companies will be given at least 21 months’ notice to get ready.
Late filing: Penalties for late filing of Corporation Tax returns have increased sharply for returns with filing dates from 1 April 2026 onwards. The size of penalty depends on how late a return is, and whether there are repeated failures to file on time, but effectively, penalties have doubled across the board. Where a return was filed late previously, the penalty was £100: now it is £200. Where it was more than three months late previously, the penalty was £200: now it is £400.
With a consultation now underway on the introduction of prescribed formats for Corporation Tax returns, change to company admin is very much the order of the day.
Do talk to us for further advice.
