Companies House will introduce a new identity verification process as part of the Economic Crime and Corporate Transparency Act 2023 from 25 March 2025.
Our Corporate Solicitors explain what this means for your business and how to prepare.
Why is there a new ID process, and who will it impact?
As a result of the Economic Crime and Corporate Transparency Act 2023, Companies House have gradually been enforcing new procedures in an effort to ensure that the information on Companies House is more accurate and reliable.
One of the upcoming changes involves a new identity verification process, which goes live on 25 March 2025.
This procedure will impact all new and existing company directors, Persons with Significant Control (PSCs), and individuals filing documents on behalf of companies.
What is changing?
Previously, anyone has been able to action filings at Companies House without having ID checks.
Starting 25 March, any individual incorporating a company or acting on behalf of one will now need to verify their identity with Companies House.
This also applies to any existing directors and PSCs, members of LLPs and partners of limited partnerships.
This is to ensure that only legitimate individuals can form and control companies in the UK.
There are two ways that individuals can verify their identity:
- Direct verification with Companies House - This involves a digital process using facial recognition technology.
- Verification via an Authorised Corporate Service Provider (ACSP) - These organisations are usually firms like solicitors and accountants who are authorised by Companies House to carry out this procedure on your behalf.
What is an Authorised Corporate Service Provider (ACSP)?
ACSPs are professional firms authorised to carry out identity verification on behalf of their clients.
These providers must be UK-based, registered with Companies House and comply with anti-money laundering (AML) regulations.
This is to prevent those who are not authorised from making filings.
The registration date to become an ACSP has been postponed from 25 February 2025 and is now to be confirmed.
We expect that the date will still be before the IDV process going live at the end of March.
What does this mean for your company?
This is a significant step towards improving corporate transparency and the accuracy of information held at Companies House.
You should ensure you keep up to date with the new regulations and prepare for this new step.
We advise that you:
- Identify who within your company will need to verify their identity;
- Choose whether to verify with Companies House or via an ACSP; and
- Keep up to date with Companies House announcements and related deadlines.
Contact Our Corporate Lawyers
If you need guidance on navigating these new requirements or support with identity verification, our Corporate Solicitors are here to help.
Contact our expert Corporate Lawyers today to ensure your business is prepared for the upcoming changes.
01619414000
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Lauren Brayshaw
Solicitor Apprentice
Lauren joined Myerson in 2023 and is currently undertaking the six-year Solicitor Degree Apprenticeship. She has completed seats in Corporate and Commercial Property and is currently in the Commercial Litigation team. Lauren enjoys gaining practical experience across different areas while developing her legal knowledge and skills.
About Lauren Brayshaw