What is the latest with the Economic Crime and Corporate Transparency Act 2023?

The Economic Crime and Corporate Transparency ACT 2023 (ECCTA) has been, and continues to be, gradually implemented through secondary legislation. 17 months on from the first elements of ECCTA 2023 coming into force, we have set out below a summary of the key changes that have already occurred and two significant changes which will soon come into play.

What has been introduced through ECCTA 2023 already?

ECCTA 2023 has introduced a great deal of new rules, but businesses will most regularly come across the following:

• Companies must have a registered email address, as well as a registered office address, through which they can be contacted by Companies House
• A company’s registered office address must be “appropriate”, meaning a document sent to the address (i) can be expected to come to the attention of a person acting on behalf of the company and (ii) that any documents sent to the registered address can be recorded by an acknowledgment of delivery – PO Boxes are not permitted
• Every confirmation statement must include a statement that the intended future activities of the company will be lawful
• Companies House fees have increased.

What changes is ECCTA introducing from 18 November 2025?

Identity Verification (“IDV”)

From 18 November 2025, all directors,  LLP members and persons with significant control (“PSCs”) will be required to verify their identity.

People new to one of these roles will be required to carry out IDV, whilst individuals already in the role will have a 12-month period in which to do so. Failure to verify constitutes an offence which may result in penalties, including a fine.

Verification can be done:

• Online via the GOV.UK One Login and the app GOV.UK ID Check
• In person at selected Post Office branches
• Via an authorised corporate service provider (“ACSP”).

IDV will be introduced at later date for:

• People who file documents at Companies House
• Limited partnerships
• Corporate directors of companies
• Corporate members of LLPs
• Officers of relevant legal entities (RLEs).

Statutory registers and ECCTA 2023

The Companies Act 2006 imposes an obligation on every company to maintain statutory registers (also referred to as “statutory books” or “company registers”), which show a record of the essential information about a company since its incorporation. A company must currently keep:

• Register of members
• Register of directors
• Register of directors’ residential addresses
• Register of secretaries
• Register of PSCs
• Register of charges.

Companies currently have the option to hold their statutory registers at Companies House, however, this option will also be abolished from 18 November 2025.

From the same date, companies will also no longer be required to keep most of the statutory registers they must currently maintain.

Instead, companies will need to:

• Maintain a register of members (either at the company’s registered office address, or a single alternative inspection location)
• Maintain a register of debenture-holders
• Provide the information contained in the other registers to Companies House, and keep it up to date.

ECCTA 2023 will continue to be implemented over time, so look out for our future updates as the legislation, and what it means for businesses, continues to develop.

In the meantime, if you have any questions, our Corporate team can help. Get in touch here.