Companies House Proposed Identity Verification Process: All You Need to Know

Introduction

The Economic Crime and Corporate Transparency Act ('ECCTA') received Royal Assent on 26 October 2023. The ECCTA, once in force, will radically change the nature of the Companies House Register. Many of the proposed changes will affect every company on the register.

One proposed reform is the introduction of a new identity verification process to help deter those wishing to use companies for illegal purposes. Anyone setting up, running, owning or controlling a company in the UK will need to verify their identity.

If you are involved in advising companies (or have any dealings with Companies House filings), then this interactive online seminar is for you.

What You Will Learn

This live and interactive course will cover the following:

• Why identity verification is being introduced
• Timeline (including postponement of the much-awaited February 2025 launch)
• ‘Changes to UK company law’ website (and other tips to remain up to date)
• Who will need to verify their identity
• How to verify your own identity (and for firms, considerations and discussion about internal policies)
• Verification when appointing a director or identifying a PSC - a process map
• How to become an Authorised Corporate Service Provider (‘ACSP’) including a review of the list of anti-money laundering supervisory bodies, the registration process (and costs)
• Understanding your role as an ACSP (legal requirements and consequences of failure to comply)
• How to use your authorised account as an ACSP
• How ACSPs can meet the verification standards for their clients (and key points to note such as potential additional training, e.g. checking documents are real)
• Summarising who can file documents at Companies House
• Q&A

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.