UK Advances Corporate Transparency Reforms

As one of the first firms registered as an ACSP, the Maples Group explores what the new regime will bring for corporate transparency.

As the UK ushers in corporate transparency reforms, new details have emerged over the requirements for ACSPs under the new regime.

Among various other measures, the Economic and Corporate Transparency Act 2023 ("ECCTA") requires that only corporate service providers authorised by the Registrar may file documents at Companies House on behalf of clients. In addition to increasing transparency, UK authorities want to be certain who is filing documents for companies and prevent any unauthorised filings which may lead to fraud. In addition to a range of new powers for UK authorities to prevent fraud, Companies House will also have the ability to actively control the register, through verification and removing or declining information.