- The Economic Crime and Corporate Transparency Act 2023 (the Act) has three key objectives: expanding the role and powers of the Registrar of Companies and strengthening the legal framework for limited partnerships; improving Companies House services and the quality and reliability of data on its registers; and strengthening the UK's broader response to economic crime.
- The expanded role and powers of the Registrar of Companies include a new function to maintain the integrity of the register of companies through, for example, powers to query suspicious appointments or filings, request further evidence, or reject a filing. Once the relevant provisions are in force (not expected before November 2026), third parties filing documents at Companies House will be required to have their identity verified; those wishing to verify identity on behalf of others will need to register as authorised corporate service providers (ACSPs).
- The law regulating limited partnerships (including Scottish limited partnerships) will be modernised, including tightened registration requirements, increased transparency requirements and enabling the Registrar, in certain circumstances, to deregister limited partnerships. Limited partnership reforms are expected to be introduced no sooner than the end of 2026.
- The Act includes an identity verification (IDV) regime. IDV requirements for individual directors, as well as for people with significant control, were introduced from 18 November 2025, and are being actively enforced. The regime will also extend to specified entities, although provisions relating to such entities are not yet fully in force. Any new individual director must have their identity verified before or upon appointment. A 12-month transitional period for existing individual directors ends on 18 November 2026. Equivalent requirements apply to individual members of limited liability partnerships (LLPs).
- From no earlier than November 2027, companies will only be able to file via an identity-verified officer/employee or an ACSP. Companies House plan to give at least 6 months' notice before the change takes effect and an advance voluntary testing period is planned.
- Timing: a phased approach to implementation of the Act has been adopted. Some elements, including the new offence of failure to prevent fraud (including tax fraud), are already in force.
Resources (click to open)
- Economic Crime and Corporate Transparency Act: outline transition plan for Companies House (Companies House, updated August 2025)
- The Registrar (Identity Verification and Authorised Corporate Service Providers) Regulations 2025 (legislation.gov.uk, January 2025)
- Economic Crime and Corporate Transparency Act 2023: Factsheets (Home Office, Serious Fraud Office, HM Treasury, Department for Business and Trade, Ministry of Justice and Companies House, February 2024)
- Economic Crime and Corporate Transparency Act 2023 (legislation.gov.uk, October 2023)
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