First changes to UK company law expected on 4 March

[Jerry1911]

First changes to UK company law expected on 4 March

Companies House is aiming to introduce the first set of measures under the Economic Crime and Corporate Transparency Act on 4 March 2024.

www.gov.uk

What will change​

The first set of changes introduced by the Economic Crime and Corporate Transparency Act includes:

• greater powers to query information and request supporting evidence
• stronger checks on company names
• new rules for registered office addresses
• a requirement for all companies to supply a registered email address
• a requirement for all companies to confirm they’re forming the company for a lawful purpose when they incorporate, and to confirm its intended future activities will be lawful on their confirmation statement
• the ability to annotate the register when information appears confusing or misleading
• taking steps to clean up the register, using data matching to identify and remove inaccurate information
• sharing data with other government departments and law enforcement agencies

Other measures under the act, such as identity verification, will be introduced later.

 

[jafo]

First changes to UK company law expected on 4 March

Companies House is aiming to introduce the first set of measures under the Economic Crime and Corporate Transparency Act on 4 March 2024.

www.gov.uk

They are going to send all that business to US states.

 

[Martin Everson]

Sadly criminals use UK Limited companies like Marshall Island companies as they are cheaper, faster and easier to setup with completely fake details. Such companies operate for a year, don't file or pay any taxes and then get struck off by companies house....lol.

The downside is if they make it too difficult to register, which does not seem to be the case, then it could be harmful to business growth.

 

[myshufflemix]

Yet another way to stop black and criminal money from flowing. It's becoming quite a document hell to run a business these days.

 

[koohl]

It will be incredibly exciting to see them enforce this law. This means that after the 4th of March (i.e., in one month from now) the UK will have 4 million dissolved companies. That's going to look good on the negative statistics.