Further legal obligations on the UK companies.
Recent changes to UK company law took effect from 4 March 2024, significantly altering how businesses operate and comply with legal obligations. The changes, driven by the Economic Crime and Corporate Transparency Act 2023, aim to enhance transparency and combat fraud. Key updates include:
Statement of Lawful Purpose
New companies must now confirm they are being formed for a lawful purpose and reaffirm this during their annual confirmation statements.
Software-Only Filing
Filing of annual accounts will shift entirely to software-based methods over the next few years, phasing out other submission channels like WebFiling and paper forms.
Identity Verification
New identity verification requirements will apply to directors, people with significant control (PSCs), and other relevant individuals, with the goal of preventing fraudulent activities.
Registered Office and Email Requirements
Companies must have an "appropriate" physical office address and a registered email for formal communications with Companies House.
