The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024.

Changes introduced include:

New criminal offences and civil penalties will complement the measures introduced.

The phased roll out of new powers and requirements is designed to minimise hassle for legitimate businesses. Many of the changes will be integrated into existing reporting cycles, such as the requirement to update a company’s confirmation statement.

As further measures are introduced, Companies House will let people who file information with Companies House know what they need to do via their communications channels and campaigns.

Source:Other | 03-03-2024