Big changes are
coming to how company directors and individuals with significant control (PSCs)
verify their identity with Companies House. As part of a major set of reforms
aimed at increasing corporate transparency and accuracy in the register,
identity verification will become a key requirement for many involved in
running limited companies in the UK.
What’s
Changing?
Currently ID
verification is on a voluntary basis for:
- Company
directors
- Individuals
with significant control (PSCs)
Later in the
year, from autumn 2025, these requirements will become mandatory for all new
company incorporations and new appointments. Existing directors will have 12
months to complete their ID verification from autumn 2025.
While exact
dates for full implementation haven’t been confirmed, it's clear that these
changes will become compulsory by late 2025.
Who Will
This Affect?
These reforms
are expected to impact approximately 7.4 million existing directors in the UK.
Anyone involved in managing a UK company, or holding significant control over
one, will need to ensure their identity is verified through the new process.
It is not only
directors and PSCs, third party agents who will be submitting information to
Companies House on behalf of others, will now be required to register and
verify their own identities.
Why These
Changes Are Being Introduced
The enhanced
powers granted to Companies House are designed to:
- Improve the accuracy and integrity
of company data
- Enhance transparency around who
owns and controls companies
- Making it harder to submit false or
misleading information
Requiring identity
verification ensures Companies House can confidently identify who is filing
information and acting on behalf of companies. It also allows for faster
detection of agents who may be acting unlawfully, and appropriate action can be
taken.
Authorised
Corporate Service Providers (ACSPs)
In the future,
all third-party providers (such as accountants, solicitors, and company
formation agents) will need to register as Authorised Corporate Service
Providers (ACSPs) in order to:
- Submit information to Companies
House
- Conduct ID verification checks on
clients
An ACSP must be
a business supervised under Money Laundering Regulations.
We will be becoming
an ACSP and will be providing this identity verification service to our
clients. While official guidance and full details are still limited at this
stage, we’ll be contacting everyone affected as soon as more information
becomes available.
What should
you do now?
- Be
aware that ID verification is voluntary for now, but will likely become mandatory
by autumn 2025
- Start
preparing for these changes, get your passport and driving licence up to date
if they have expired
- Keep
an eye on updates from us
We’ll continue
to monitor developments closely and keep you informed as further guidance is
issued.
