top of page

Major Reforms Ahead for UK Companies

  • Alessandro Bolasco
  • Sep 25, 2020
  • 1 min read



As anticipated last year, when Companies House launched an important consultation on its role as a public body, a set of major reforms will be implemented with the aim of improving the completeness and the accuracy of the information filed with the registrar.

Now that the Government has published its response, as the reforms are expected to be brought in as early as 2021, the main changes will be the following:

- Companies House will move from having a mere repository role to having the power to question and verify the information filed

- A new system for digital identification of officers, PSCs and agents which will also allow linking identities across different companies on the public register

- Obligation on bodies subject to AML to report discrepancies between the public register and the information they have

- List of shareholders will be included every year as in the old annual returns; the Government will also review the information required to be filed about the shareholders

- The Government will review some aspects of accounts filings, including the exemptions that allow companies to submit micro or dormant accounts

While this is not yet legislation, it is already clear how the changes will bring additional compliance requirements on company secretaries but to the great benefit of all stakeholders who consult the public register for reliable information about UK companies.

As the details of the above reforms are yet to be defined, we look forward to learning more as new updates become available.

Please contact us if you wish to be in the know

Alessandro Bolasco


Bolasco Consulting Ltd

 
 
 

Kommentare


Contacts

Please read our privacy notice - by writing to us you give consent to our processing your details

Thanks for submitting!

Address: 86-90 Paul St, London, EC2A 4NE, UK

Tel.: +44 20 3824 1836

Bolasco Consulting Ltd is a company registered in England and Wales under the number 11352906 with registered office in 86-90 Paul Street, London, EC2A 4NE

© 2018 - 2025 Bolasco Consulting - All rights reserved

bottom of page