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Companies House: Reform

Asked by Johanna BaxterLabourDepartment for Business and TradeTabled Answered 27 February 2025UIN 31212

The question

To ask the Secretary of State for Business and Trade, what steps his Department has taken to reform Companies House to tackle illicit finance.

Answered by Justin Madders

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) will fundamentally reform Companies House, enabling it to play a greater role in tackling economic crime.

The first of these reforms came into force in March 2024 and included new powers to query, challenge and remove inaccurate information, stronger checks on company names, stricter address requirements and greater information sharing powers. These reforms were backed by £63 million of investment and increased fees to fund greater investigation and enforcement capabilities.

Further reforms under the ECCTA, including the introduction of Identity Verification later this year, are in the process of being implemented.

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