Following the introduction of the Economic Crime and Corporate Transparency Act to improve transparency over UK companies and tackle economic crime, the Government has announced a voluntary period for individuals running businesses to verify their identity with Companies House before it becomes a legal requirement later this year.
More than six million individuals will need to prove their identity in the 12 months after identity verification becomes mandatory, which is expected to be in the autumn, and for existing directors the requirement will be integrated into the annual confirmation statement update process to reduce the burden on companies. Individuals can verify their identity by supplying the evidence requested via their GOV.UK One Login, a local Post Office, or an Authorised Corporate Service Provider (ACSP).
