UK: Changes to company law

 

The UK has implemented changes to company law on 4 March 2024 as a result of the Economic Crime and Corporate Transparency Act.

The main changes that have been rolled out are:

1. Registered office address

All companies are now required to have an ‘appropriate address’. This is an address where any documents sent to it should (a) be expected to come to the attention of a person acting on behalf of the company (usually a director), and (b) be able to be recorded by an acknowledgment of delivery.

A company can therefore no longer use a PO Box as its registered office address. Companies that do not have an appropriate address face the risk of being struck off the register.

2. Registered email address

On incorporation, or on filing the next confirmation statement in the case of existing companies, all companies must provide an email address. Companies House may use this to correspond with the company, but it will not be made publicly available.

3. Statement of lawful purpose

When incorporating a company, the subscribers will now need to confirm that they are forming the company for a lawful purpose, and that the company’s intended future activities are lawful.

Existing companies will be required to make a lawful purpose statement when filing their next confirmation statement.

Companies (and anyone considering setting up a company) will therefore need to ensure that they are ready to take the necessary action.

Additionally, Companies House are increasing their fees for some services with effect from 1 May 2024.

 

For further information, please contact:

Steen Rosenfalck, Partner

ebl miller rosenfalck, London

e: steen.rosenfalck@ebl-mr.com

t: +44 77 3663 4727

 

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