Companies House Reforms Coming In March 2024: Are You Ready?

Get ready for some important changes to company registrations in the UK, as Companies House intends to implement the first set of updates on March 4th, 2024. While the exact date depends on parliamentary schedules, it's guaranteed to be no earlier than March 4th. Here's what you need to know:

Registered Office Address

• PO Boxes no longer allowed: From March 4th, PO Boxes cannot be used as registered office addresses.
• "Appropriate address" requirement: Your registered office address must be one where documents are likely to reach a company representative and can be acknowledged upon delivery.
• Third-party agents allowed: You can still use a third-party agent's address if it meets the "appropriate address" criteria.
• Update your address by March 4th: If you currently use a PO Box, change your registered office address online by March 4th. Failure to do so could result in your company being struck off the register.

Registered Email Address

• Mandatory for all companies: Starting March 4th, all companies must provide a registered email address. This address will not be publicly visible.
• New companies: Include your registered email address during incorporation from March 4th onwards.
• Existing companies: Update your registered email address in your next confirmation statement with a statement date of March 5th, 2024 or later.
• Communication: Companies House will use this email address to communicate important information about your company.
• Easy updates: Change your registered email address through the "update a registered email address" service online.
• Maintaining accuracy: Companies are responsible for keeping their registered email address up-to-date, similar to their registered office address.

Statement of Lawful Purpose

• Confirmation upon incorporation: Starting March 4^th 2024, company founders (shareholders) must confirm their intention to operate lawfully when incorporating a company.
• Future lawful activities: Existing companies must confirm their intended future activities are lawful in their upcoming confirmation statements.
• Combating illegal activity: These statements aim to ensure all companies operate lawfully. Companies House may take action if evidence suggests unlawful activities.
• Document submission requirement: Your incorporation documents and confirmation statements will not be accepted without these confirmations.

Enhanced Scrutiny and Transparency

• Stronger verification: Companies House will have greater power to request information and supporting evidence to ensure accuracy.
• Clearer company names: Expect stricter checks on company names to prevent misleading or inappropriate choices.
• Lawful purpose declarations: New companies must confirm their lawful purpose upon incorporation, and existing companies must confirm lawful future activities in their confirmation statements.
• Data-driven cleanup: Companies House will use data matching to identify and remove inaccurate information from the register.
• Improved communication: A dedicated registered email address will be required for all companies, allowing for better communication between Companies House and businesses.
• Enhanced clarity: Confusing or misleading information on the register will be flagged with annotations for better user understanding.
• Collaboration with authorities: Data sharing with government departments and law enforcement agencies will be enhanced to combat illegal activities.

Stay Informed and Prepared

These changes signify Companies House's commitment to improving transparency and combating illegal activity. By familiarising yourself with these updates, you can ensure a smooth transition for your company and avoid potential complications. Visit the Companies House website for more detailed information and resources or contact us on 0121 633 2000. You can also email us at enquiries@friendllp.com