11th December 2024ECCTA 23: Companies House sets out preliminary implementation timeline

We reported in October that with the introduction of the Economic Crime and Corporate Transparency Act 2023, directors need to be aware of new requirements and keep up to date with changes to UK company law.

Some important changes are coming in Spring 2025 and will require all directors to verify their identity with Companies House.

We set out a timeline below, detailing anticipated implementation dates to be aware of:

Spring 2025:

• Individuals will be able to voluntarily verify their identity using the online portals

Autumn 2025:

• Identity verification is likely to be compulsory for new directors and people with significant control
• A 12 month transition phase is expected to begin, whereby existing directors and people with significant control must verify their identity

End of 2026:

• All individuals should have completed the verification process.

To get ahead of the curve, we strongly advise you to register during the voluntary period, once portals open in Spring 2025.