
Companies House has launched a new service to conduct identity verification for those setting up, running, owning and controlling businesses in the UK.
More than 6 million individuals are expected to need to comply with new identity checks in the 12 months after identity verification becomes a legal requirement later this year, with a voluntary period of verification open from 8th April. Individuals can verify their identity directly with Companies House or through an Authorised Corporate Service Provider (ACSP).
Identity checks for business owners are being introduced following the changes to company law in the Economic Crime and Corporate Transparency Act 2023 which gave Companies House greater powers to address economic crime.
Companies House CEO Louise Smyth CBE said:
“Identity verification will play a key role in improving the quality and reliability of our data and tackling misuse of the companies register.
“To save time later, we encourage directors, people with significant control of companies (PSCs) and those filing information with Companies House to verify their identity during the voluntary window.
“We expect identity verification to become mandatory from autumn 2025.
“To reduce the burden on business, the identity verification requirement for existing directors will be integrated into the annual confirmation statement update process.“
Minister for Employment Rights, Competition and Markets Justin Madders MP said:
“In a time where economic crime has become too common, it is imperative that we bring in measures to prevent identities being stolen online and today marks a significant milestone in our plans to require identity verification for those setting up and running companies on the Companies House register later this year.
“This is good for business, lenders and transparency and will give companies, consumers and lenders more certainty about who they are doing business with.“