Hi

Progress towards implementing the Economic Crime and Corporate Transparency Act is progressing at a fast pace. Four of the five Statutory Instruments required to finally enact the legislation have passed through parliament and it is expected that the Act will come into force on 4 March 2024, although not all the changes - such as identity verification - will come into force at once.

The biggest change enacted by the legislation will be to make Companies House a regulator and enforcement body. This will require substantial funding which is why Companies House fees will rise considerably, in some cases tripling or even quadrupling.

A list of the new fees, which will take effect from 1 May 2024, announced yesterday can be found here.

Once the legislation is enacted I will be holding a webinar outlining the changes. If in the meantime you have any questions just drop me a line.

Noel Guilford