The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) was introduced on 26 October 2023 to strengthen corporate governance and tackling economic crime in the UK.

ECCTA comes into force in stages and this article aims to provide a concise overview of what changes have been introduced, what are the upcoming changes and how to prepare for them. Organisations should be aware of these changes to ensure compliance and avoid the risks of penalties.

What changes were introduced in 2024?

Several key provisions of ECCTA were introduced in 2024 including:

• Increased Companies House fees: Companies House filing fees have been increased, please see a summary of these in our previous article here.

• Enhanced Companies House powers: Companies House can now check, remove or decline inaccurate information submitted to or already on the companies register.

• Registered email address (“REA”): Companies must provide a valid REA either in incorporation or when they file their next confirmation statement to receive communications from Companies House such as reminders or challenge information provided.

• Registered office address (“ROA”): Companies are required to ensure that its ROA is appropriate and functional meaning that any documents sent to that address comes to the attention of a person acting on behalf of the company and it is possible for the sender to get confirmation of delivery. PO Boxes are no longer permitted as a ROA.

• Confirmation of lawful activities: When filing confirmation statements, companies need to confirm that their intended future activities will be lawful.

How Can Our Corporate Team Help

The Laytons’ Corporate team is experienced in advising clients in relation to the changes and upcoming changes to English company law. If you have any questions on the matters discussed in this article or if you need further guidance, then please get in touch with our team.

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