Although no specific date has been yet released in respect of the next set of changes to be brought in under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), it is prudent to be properly prepared to avoid being caught out and facing the possibility of a fine, director’s disqualification or, in extreme cases, criminal prosecution.

For example, historically, if a company did not file their confirmation statement on time there were no sanctions, unless the CS01 was not filed despite reminders over a period of months, at which point compulsory strike off proceedings are implemented by the Registrar of Companies.  Going forward the Registrar will have powers to penalise companies, who have ignored warnings, for late filings.

Companies House will also be working in partnership with different enforcement agencies, including the Insolvency Service to investigate offences and to prosecute.

This regime is the latest stage of the implementation of ECCTA 2023 which was brought into play with the aim tackling corporate transparency and economic crime but giving Companies House enhanced powers.

Further updates are to follow and we will let you have the relevant details of these as and when these arise.

If you do want to speak to us in respect of this update or any other commercial, company or corporate matter, please contact Amanda Sells at 01392 260125 or email amandasells@wbw.co.uk, who will be able to put you in touch with the member of our team best qualified to deal with your enquiry.

WBW Solicitors has offices in Axminster, Bovey Tracey, Brixham, Chard, Exeter, Exmouth, Honiton, Launceston, Newton Abbot, Paignton, Seaton, Sidmouth, and Torquay.

This article is for general information only and does not constitute legal or professional advice. Please note that the law may have changed since this article was published.