If you’re a Limited Company Director, you may have been sent an update about some recent changes for Limited Company Directors. Essentially, if you’re a company director in the UK, you will face stricter identity verification, as part of the Economic Crime and Corporate Transparency Act.
From Autumn 2025, all directors, Persons of Significant Control and company representatives need to verify their identity to make it harder to use loopholes to abuse company structures.
Non-compliance for not following the process
Non-compliance could lead to penalties or even criminal sanctions, so it’s important to make sure you have the correct processes in place. Verification can take place via an ACSP (Authorised Corporate Service Provider) who have all the systems in place to complete the process on behalf of any Limited Company Directors.
We’ve already written to our clients so they are aware of these changes and are aware that Coopers&Co is a registered ACSP and we can complete the identity verification on your behalf.
Don’t have an ACSP in place?
Find out how the team at Coopers&Co can verify your identity as a Limited Company Director on 01604 678470.
Accounting software updates from Companies House
Many of our clients have had communication from HMRC to let them know that from 1 April 2027, all companies will need to file their annual accounts using commercial software. Companies House is closing its web and paper-based filing systems, meaning software submission will become the only option moving forward.
As a firm, we’ve had the required software in place for a very long time, so all of our clients can rely on us to make the submissions for them using the correct software.
However, if you are concerned that you don’t have the correct software in place, then take a read at the changes to see what you need to do next.
The changes at a glance:
- You won’t be able to send in paper and web forms – it will have to be digital annual accounts instead
- Small and micro-entity companies will need to submit profit and loss accounts
We are expecting them to announce further changes to audit exemptions and accounting reference periods – but we don’t have any information on that yet. We aren’t expecting any changes to confirmation statements or director updates at the moment.
These changes are part of the Economic Crime and Corporate Transparency Act 2023, designed to improve the accuracy of the data on the register, support Companies House to detect and prevent fraud and to help businesses access credit more easily (which is helpful).
If you already use accounting software to file your accounts, there is no action required. If you use web or paper filing – you have 21 months to transition before the new rules apply.
Unsure about how to transition for the new 2027 changes?
Please speak to your Client Services Manager on 01604 678470.