Changes to UK company law – Use of PO Box addresses for registered office addresses, Identity Verification and other changes
Companies House in the UK has announced a policy change regarding registered office addresses, effective from the 4th March 2024.
The UK's official register of companies will no longer accept PO Box addresses for registering a company's office location. This move is part of Companies House's efforts to enhance transparency and ensure registered offices accurately reflect the physical locations of businesses. The move is expected to contribute to the fight against fraudulent activities and money laundering, making it more challenging for entities to conceal their true addresses behind PO Box details.
Existing companies registered with PO Box addresses will be required to update their information by the 4th March 2024 to comply with the new policy. The updated policy aims to align the UK business registry with international standards and strengthen the integrity of company information. More information can be found here: Improving the quality of data on our registers - Changes to UK company law Improving Companies House data
Another major change is Identify Verification. The new bill mandates identity verification for all new and existing registered company directors, People with Significant Control (PSC), and individuals delivering documents to the Registrar. This can be done directly through Companies House or indirectly through an Authorised Corporate Service Provider (ACSP). Existing companies will have a transitional period during which they must verify the identities of directors and PSCs. More information can be found here: Identity verification - Changes to UK company law
These are part of the new changes being brought in with the Economic Crime and Corporate Transparency Act. Changes to UK company law: a big moment for Companies House - Companies House (blog.gov.uk)
Other changes include:
- Improving the quality of data on their registers
- Confirmation statement changes
- Changes to Companies House fees
- Changes to accounts
- Protecting your information
- Changes to limited partnerships
- Improving transparency of company ownership
- Investigation, enforcement and data sharing
More information about these changes can be found here: Changes at a glance - Changes to UK company law Companies House changes