Companies House has introduced a new sanctions regime aimed at improving compliance and transparency in the UK company register, with a focus on cracking down on abuse and economic crime.
Registered companies are urged to comply with their legal obligations, such as submitting confirmation statements in a timely manner, to avoid financial penalties or more serious consequences.
The new powers, granted under the Economic Crime and Corporate Transparency Act 2023, allow Companies House to take civil action, disqualify directors and even bring criminal charges in serious cases of non-compliance. Drivers found guilty of violations may receive a criminal record. Companies House will work with the Insolvency Service and other enforcement partners to share intelligence and take joint enforcement action where necessary.
Martin Swain, Director of Intelligence and Law Enforcement Liaison at Companies House, stressed that while the agency will support companies in meeting their obligations, it will not hesitate to use its new powers when necessary. He said: “These new penalties mark an important step forward for Companies House… to enforce the law robustly but fairly.”
The new penalties are part of a wider effort to improve corporate transparency and combat economic crime, strengthening the integrity of data in the UK company register.