New identity verification for UK companies launched
More than 6 million individuals will need to comply in 12 months after identity verification becomes a legal requirement later this year.
Earlier this week, on 8 April, a new service was launched to allow individuals to verify their identity directly with Companies House using GOV.UK One Login. People can also verify their identity through an Authorised Corporate Service Provider (ACSP). The introduction of identity verification is one of the key changes to UK company law under the Economic Crime and Corporate Transparency Act 2023. The legislation gave Companies House new and enhanced powers to help disrupt economic crime and support economic growth.
“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,” Justin Madders, the minister for employment rights, competition and markets, said.