As part of the changes being gradually introduced by the Economic Crime and Corporate Transparency Act (ECCT), identity verification is set to become a Companies House requirement.
This is one of a number of changes that the Act is making to better protect the data held at Companies House.
Who will be affected by identity verification?
Identity verification will ultimately become a compulsory part of incorporation and new appointments for new directors and persons with significant control (PSCs).
All existing directors and PSCs will also need to verify their identity as part of the annual confirmation statement filing, once Companies House make this mandatory. Anyone who files a document will also need to have their identity verified.
Mandatory identity verification is still being prepared for, however, individuals will be able to voluntarily verify their identity from 8 April 2025 using their GOV.UK One Login or via an Authorised Corporate Service Provider (ACSP).
Changes for third party corporate service providers
Last week also saw the introduction of a new service for third party corporate service providers, such as accountancy firms, to apply to register as an ACSP.
Ultimately, third party providers will have to register to be able to file information and confirm they’ve verified the identities of their clients.
ACSPs have to be:
- Based in the UK
- Registered with Companies House
- Be registered with a UK supervisory body for anti-money laundering (AML) services
- Retain records of identity verification checks.
For more info, see: https://www.gov.uk/government/news/companies-house-launches-registration-of-authorised-corporate-service-providers