Individual directors and people with significant control (PSCs) of companies, as well as those who present information for filing at Companies House, will have to verify their identities under a package of UK
government proposals to improve the accuracy and relevance of information held at Companies House.
Other proposals include:
- Collecting more information on shareholders for the register of members and filing changes to that information at Companies House within 14 days (rather than as part of the confirmation statement process).
- Extending the powers of Companies House to query and seek corroboration on information before it is entered on the register.
- Cross-checking information against data held by other government and private sector bodies and requiring entities which are regulated for anti-money laundering purposes (such as banks, accountancy and law firms) to report anomalies in data to Companies House.
- Only allowing identified or authorised persons to file information at Companies House.
- Making it easier to remove inaccurate information from the register without going to court.
- Improving the process for delivery of annual accounts to Companies House.
- Requiring basic information about listed entities (such as where they are listed) to be included on the PSC register.
- Introducing measures to deter abuse of UK legal entities, including ending the business activities of limited partnerships which are being misused; imposing limits on the number of directorships any one individual can hold; and requiring the disclosure of information about a company’s bank accounts.
