News and views

What companies need to know

New mandatory identity verification requirements will take effect in the UK from 18th November, marking an important change for company directors, People with Significant Control (PSCs) and anyone submitting filings on behalf of a company. This change is part of the wider reforms introduced under the Economic Crime and Corporate Transparency Act 2023, aimed at improving the accuracy and integrity of company information on the public register.

Over the 12 month transitional period…

• Existing directors and PSCs must complete verification before the next confirmation statement is due
• New directors and PSCs must be verified before they can act

What companies must do...

Businesses should start preparing now to ensure they meet their obligations:

• Identify all individuals who will need to be verified
• Decide on the verification route - through Companies House directly or via an Authorised Corporate Service Provider (ACSP)
• Build verification into internal onboarding and appointment processes for new directors and PSCs
• Communicate upcoming requirements clearly to existing directors and PSCs to ensure IDV is completed within the timescales

Failure to complete identity verification is a criminal offence and carries potential fines and reputational damage.

Prepare with expert training...

Our course, ID Verification & Companies House Reforms explains the legal requirements, practical steps, and common pitfalls - helping businesses stay compliant from day one.

Book your place now to make sure your company is ready.