The phased rollout of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) will affect all UK-registered companies. We summarise the upcoming changes, their impact on companies’ filing requirements and how BKL can help.
Background to the ECCTA
The ECCTA reforms Companies House to enhance transparency, combat economic crime and support national security while modernising UK company law.
The Act introduces the most significant changes since 1844, empowering Companies House to ensure accurate and trusted data and prevent unlawful activity.
Registrars in England & Wales, Scotland and Northern Ireland will operate under new objectives to:
- Ensure proper delivery of required documents
- Maintain accurate and complete registers
- Prevent misleading information from being public
- Prevent unlawful activities by companies or their facilitation
There will be new responsibilities if you are:
- A new or existing company director
- A person with significant control (PSC) of a company
- Someone who files information on behalf of a company
ECCTA reforms introduced so far
The ECCTA’s gradual programme of change, which started in March 2024, has so far introduced:
- Increased powers for Companies House to reject fraudulent filings and misleading company names
- Streamlined removal of inaccurate data and improved registered office address standards
- Enhanced data-sharing with law enforcement
- Higher fees introduced to fund enforcement and investigative work
- The ability to issue financial penalties for offences
ECCTA timetable for 2025-2026
Based on the update published by the Government in late 2024, UK businesses can expect the following phases:
| Spring 2025 | Authorisation of Authorised Corporate Service Providers (ACSPs) to perform identity verification under the UK’s anti-money laundering regime
Optional identity verification for individuals and residential address suppression |
| Autumn 2025 | Mandatory identity verification for new directors and PSCs at incorporation
12-month transition for existing directors and PSCs |
| Spring 2026 | Mandatory identity verification for document filers and ACSPs
Stricter controls on filings by disqualified directors |
| End of 2026 | Full transparency for limited partnerships
Comprehensive cross-checking of data with other bodies |
| Following accounts reform |
Software-only filing for accounts and elimination of abridged accounts
Enhanced financial disclosures, including profit and loss statements |
Because of operational complexity and parliamentary scheduling, we may see delays to this rollout. We’ll keep you informed of updates to the timetable.
The ECCTA changes highlight the challenges of corporate governance: meeting your business’s statutory and legal compliance responsibilities amid increasing regulation.
How BKL can help
Our company secretarial and corporate governance specialists can help you to understand the changes to your filing requirements under the ECCTA, ensuring that your team are fully prepared for updates to your processes.
By outsourcing to BKL’s company secretarial team, we can ease your administrative burden and give you more freedom to focus on growing your business. Our services include Companies House filings, maintaining statutory registers and managing shareholder registers. We also act as the registered office for businesses of all sizes, taking care of their HMRC and Companies House correspondence.
Our corporate governance services are tailored to support the sustainable growth of your business, We’ll make sure that you’re demonstrating accountability, reducing risk, increasing business confidence and making a positive social and environmental impact.
Contact us today for a chat about how we can guide you through the ECCTA and support your compliance.