Navigating the new Companies House landscape: Why a robust register is a win for business growth.
Trust is the bedrock of business. The recent reforms at Companies House, under the Economic Crime and Corporate Transparency Act, are a welcome step toward a more secure and transparent corporate register.
Here’s why these changes matter for legitimate businesses seeking larger clients:
- Mandatory ID Verification: Directors will now have their identities verified, making it significantly harder for fraudulent actors to operate.
- Enhanced Scrutiny: Companies House has new powers to query, reject, and remove inaccurate information, creating a cleaner, more reliable register.
- Better Transparency: New rules on physical and email addresses ensure companies have a genuine, traceable presence.
These changes are not just about compliance; they’re about building a stronger, more trustworthy UK business environment.
From our perspective, it’s a positive sign to see regulators taking action to increase accountability. We hope to see similar changes within our own industry in the future. Currently, there are no legal restrictions on who can set up and call themselves an accountant, which can put businesses at risk. Raising the bar with more rigorous regulation would help to protect clients, elevate professional standards, and ensure that only qualified, ethical professionals are advising on such critical matters.
In the UK, there is no single, overarching legal requirement for a person to hold a specific qualification or be a member of a professional body to offer accounting services or to set up an accountancy firm.
If you are looking for an accountancy firm that can help you navigate through the compliance of a start-up or a growing business, contact us to explore how we can help you.