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Changes to UK company law and how it affects your business

For all your accounting needs

Due to the new Economic Crime and Corporate Transparency Act, Companies House will play a bigger part in fighting economic crime. They’re introducing several updates to help with this:

  • Changes to the rules for office addresses
  • A new need for a business email address
  • More checks for people owning or managing a business
  • Easier ways to submit financial reports
  • Higher fees

These are big changes and won’t happen all at once. They will start on March 4, 2024, and it will take a while to put everything in place.
Starting March 4, you can’t use P.O. Boxes for your business address anymore. You can still use an agent’s address, but get in touch if you have questions. After March 4, you’ll also need to give a business email when you send your yearly statement. This email should be proper, and you can use personal or business emails. You must also confirm that your business follows the law. Due to these updates, Companies House will raise their fees from May 1, 2024. They say the higher fees are just to cover costs, but some fees will go up a lot. For more information on this, click here.

A final update from me – due to an increase in the underlying fee and the significant rise in administrative efforts required, the charge for processing any Confirmation Statements will be adjusted to £100. We appreciate your understanding and are committed to continuing to provide you with the highest level of service.
Please feel free to reach out if you need further clarification or support.

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