In this newsletter, we will discuss the first set of measures under the Economic Crime and Corporate Transparency Act 2023 (ECCTA) which came into force on 4 March 2024. We will also explain the upcoming Companies House fee increases and new penalties that will take effect from May 2024.

What were the main changes that were introduced on 4 March 2024?

The changes that were introduced under the ECCTA on 4 March 2024 are mainly administrative. They include new requirements relating to registered office addresses, registered email addresses and lawful purpose statements. Companies House also has new powers to challenge company names. We will describe each of these requirements below.

What is the new requirement concerning registered office addresses?

Companies must now have an ‘appropriate address’ as their registered office address. An ‘appropriate address’ is one where any documents sent to the registered office should be expected to come to the attention of a person acting on behalf of the company, and those documents can be recorded by acknowledgement of delivery. Companies cannot use a PO Box as a registered office address, and companies that do not have an appropriate registered office address could be struck off the register.

What is the new requirement for registered email addresses?

All companies must give a registered email address to Companies House. This email address will not be made public, and it will only be used by Companies House for communications with the company. New companies must supply an email address upon incorporation, and existing companies will need to supply one when they file their next confirmation statement. Companies will have a duty to maintain an appropriate registered email address, in the same way as their registered office address. Any company that does not do this will be committing an offence.

What is the new rule regarding lawful purpose statements?

Every confirmation statement will now include a specific confirmation that the company’s intended future activities are lawful. Existing companies will need to make a lawful purpose statement when they file their next confirmation statement. For those incorporating a new company, the subscribers (initial shareholders) must confirm that they are forming the company for a lawful purpose.

What are the changes in relation to company names?

Companies House is now running stronger checks on company names which may give a false or misleading impression to the public. Under the ECCTA, Companies House can now reject an application to register a name where they have reason to believe that the name is intended to facilitate fraud, that the name contains a computer code, or that the name is likely to give a false impression that the company is connected to a foreign government or international organisation.

What are the new Companies House fees and when will they take effect?

On 19 February 2024, the Registrar of Companies (Fees) (Amendment) Regulations 2024 and the Registrar of Companies (Fees) (Register of Overseas Entities) Regulations 2024 were published and laid before Parliament. Following these regulations, Companies House will be increasing a number of fees as well as introducing new fees, which reflects the expanded powers of the Registrar of Companies under the ECCTA. The new fees account for the cost of investigation and enforcement activities that will help to combat economic crime. These fees will take effect from 1 May 2024, and include the following:

  • The fee for online incorporation of a company will rise from £10 to £50
  • The fee for registering a UK establishment of an overseas company will rise from £20 to £71
  • The fee for registering an overseas entity for the ROE will rise from £100 to £234
  • The ROE update fee will rise from £120 to £234
  • The application fee for removal of an overseas entity from the ROE will rise from £400 to £706

The full list of upcoming fees is available on the Companies House website.

What are the new financial penalties and when will they come into force?

The Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024 were published on 26 March 2024 and will come into force on 2 May 2024. These regulations introduce new civil penalties by enabling the Registrar of Companies to impose financial penalties for certain offences under the Companies Act 2006, as an alternative to criminal prosecution. The maximum penalty which may be imposed will be £10,000.

How 3CS can help

Our team of corporate and commercial lawyers and consultants have both domestic and international expertise and offer a full range of corporate and commercial legal services. If you need any assistance or have any other questions concerning the new Companies House fees and requirements, please get in touch with your usual 3CS contact.

Keith McAlister

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Registered in England & Wales | Registered office is 60 Moorgate, London, EC2R 6EJ
3CS Corporate Solicitors Ltd is registered under the number 08198795
3CS Corporate Solicitors Ltd is a Solicitors Practice, authorised and regulated by the Solicitors Regulation Authority with number 597935


Registered in England & Wales | Registered office is 60 Moorgate, London, EC2R 6EJ
3CS Corporate Solicitors Ltd is registered under the number 08198795
3CS Corporate Solicitors Ltd is a Solicitors Practice, authorised and regulated by the Solicitors Regulation Authority with number 597935