The Economic Crime and Corporate Transparency Act 2023

In this latest Westcotts podcast, we discuss The Economic Crime and Corporate Transparency Act 2023 which introduces major reforms to Companies House, including increased filing fees to fund upgrades to their services and modernisation of systems, and also the new requirement for company directors to complete identity verification to improve transparency and reduce economic crime.

The podcast also notes that while proposals for companies to file profit and loss accounts on the public register were initially planned, implementation has been delayed following concerns about the burden and sensitivity of financial disclosures.