As we have flagged in previous briefings, the phased
implementation of the Economic Crime and Corporate Transparency Act
2023 ('ECCTA') is still ongoing.
The latest phase relates to the introduction of ID verification
for directors. This affects all UK companies, including those
operating schools, colleges and universities and their group
entities. It is important for these entities and their trustees to
keep up-to-date with developments in implementation to ensure that
they remain compliant with their legal and regulatory
requirements.
Who needs to verify their identity?
The new rules require that various categories of person must
verify their identity. Those most likely to be relevant to
charities are:
