March 4th updates - Registered email and lawful purpose statement
As part of the new Economic Crime and Corporate Transparency (ECCT) Act a number of measures will be introduced in regards to company filings. The first changes will be rolled out on 4th March 2024, these are as follows:
- new rules for registered office addresses
- requirement for all companies and LLPs to provide a registered email address
- new lawful purpose statements.
A brief summary of the changes can be found below.
New rules for registered office addresses
Starting 4 March 2024, new regulations will be in effect regarding registered office addresses for companies. These regulations stipulate that companies must always designate an 'appropriate address' as their registered office. An appropriate address is defined as one where:
- any correspondence sent to the registered office is likely to be brought to the notice of someone representing the company,
- any correspondence received can be acknowledged through a delivery confirmation.
As a result of these changes, companies will no longer be allowed to list a PO Box as their registered office address beyond 4 March 2024. However, companies may continue to use the address of a third-party agent, as long as it fulfills the criteria for an appropriate address.
Registered email address
Starting on 4 March 2024, a new rule mandates that all companies and LLPs must provide a registered email address to Companies House. This email address will remain confidential and will not appear on the public register.
From this date forward, newly established companies are required to submit a registered email address at the time of incorporation. Meanwhile, existing companies must supply a registered email address upon submitting their next confirmation statement.
To modify their registered email address, companies can utilise the forthcoming 'update a registered email address' service.
Statement of lawful purpose
Starting 4 March 2024, individuals incorporating a company will be required to affirm that the company is being established for a lawful purpose by the subscribers. Additionally, they must verify that the company's planned future activities are lawful when submitting the annual confirmation statement.
The purpose behind introducing these declarations is to emphasise the obligation of every company, whether newly formed or previously established, to conduct its operations lawfully.
Documents related to company incorporation or confirmation statements will be rejected if these affirmations are not made.
From 4 March 2024, these new declarations will be included in the processes of company incorporation and the filing of confirmation statements.
Changes to fees
You may be aware that Companies House are in the process of overhauling their statutory filing fees, this is to fund the costs related to the reform measures in the ECCT Act. The new fees are due to be implemented from 1st May. We will provide further updates on our revised fees ahead of this change.
Recent Blog Posts
- 27 Nov 2024 - VAT - What is it and how do I register?
- 21 Nov 2024 - Outsourcing: Pros & Cons
- 24 Oct 2024 - Why do Businesses Fail?
- 23 Sep 2024 - What Is A Company Limited By Guarantee?
- 28 Aug 2024 - Can You Be Disqualified From Running A Charity?