Companies House has implemented a new sanctions regime aimed at improving compliance and transparency at the UK companies register, with a focus on cracking down on abuse and economic crime.
Registered companies are urged to fulfill their legal obligations, such as submitting confirmation statements in a timely manner, to avoid facing financial penalties or more serious consequences.
The new powers, granted under the Economic Crime and Corporate Transparency Act 2023, allow companies to take civil action, disqualify directors, and even pursue criminal prosecution in cases of serious non-compliance. Directors convicted of crimes can face criminal records. Companies House will collaborate with the Insolvency Service and other enforcement partners to share intelligence and take joint enforcement action where appropriate.
Martin Swain, director of intelligence and law enforcement liaison at Companies House, stressed that while the agency would support companies in meeting their obligations, it would not hesitate to use its new powers where necessary. “These new sanctions represent an important step forward for Companies House… to enforce the law firmly but fairly,” he said.
The new sanctions are part of a wider effort to improve corporate transparency, combat economic crime, and strengthen data integrity in the UK’s corporate registry.
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