“Be warned,” advises Rachael Chadwick-Harrison, managing director of Chadwick Accountants & Bookkeepers in Bidford-on-Avon. “This is one of those serious updates, and it affects every single person who owns a Limited Company. Don’t dismiss this as just another example of red tape. Don’t scroll past this. There’s action you’ll need to take.”

“This is all part of the Economic Crime and Corporate Transparency Act 2023,” Rachael goes on to explain. “It’s a bit of a mouthful, but basically it’s designed to stop dubious activity and make the register more transparent.”

What does it mean for you?

Put simply, new directors/PSCs (appointed after 18 Nov 2025) must verify their identity straight away. Existing directors and PSCs meanwhile have a 12-month window to get themselves verified before a company’s next Confirmation Statement is due.

“Ignore it,” says Rachael, “and you could face penalties or even restrictions. It’s not difficult, however. The easiest option is to use your biometric passport via your gov.uk log-in. If you don’t have a biometric passport, it’s not a problem. You can go ‘old school’ and pop into the Post Office to verify in person.

“But if you’re time-poor and you’d rather we take the stress off your plate, we’re here. We can handle it for you as we’re an authorised Corporate Service Provider with Companies House. We’ll take care of the whole thing for £75 + VAT per person.

“It’s a lot cheaper than a fine…”

To find out more information on this topic, tune in to this week's For Finances Sake podcast from Chadwick Accountants, available on Spotify, Amazon, YouTube, Apple and Podbean. For more information, go to the website at www.chadwickaccountants.co.uk

For further information on Chadwick Accountants contact: Rachael Chadwick-Harrison on 01789 773182 or [email protected]