Companies House

FRC launches discussion paper on future of UK digital reporting

The Financial Reporting Council has announced the launch of a comprehensive discussion paper on the future of digital reporting in the UK, as part of a cross-regulatory group. The group, comprising the Financial Conduct Authority, Companies House, HMRC and Charity Commission for England and Wales, aims to gather stakeholder feedback…

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What will audit reform look like under Labour?

Labour, having settled in after winning the 2024 general election, have set their eyes on not only prioritising employment and industrial strategy but also comprehensive audit and corporate governance reforms. Jonathan Reynolds MP, the secretary of state for business and trade, has liaised with the ICAEW in the spring of…

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The Economic Crime and Corporate Transparency Act: an overview

The Economic Crime and Corporate Transparency Act 2023 (ECCTA), which received Royal Assent on 26 October 2023 and became law, covers a wide range of reforms – Companies House being one of many that have been overhauled under this act.  The act builds on the Economic Crime (Transparency and Enforcement)…

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Insolvencies remain high despite 6% fall in May

The number of registered company insolvencies in England and Wales in May was 6% lower at 2,006 than the month prior, and 21% lower than the same month in the previous year after seasonal adjustments, new government statistics show. Despite this, the number of company insolvencies still remained much higher…

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Five ways to improve audit efficiency

Audit quality is at the heart of audit. It helps ensure an organisation’s financial reporting integrity, accuracy and compliance. However, in today’s business landscape, we’ve all come across tales of financial audits gone awry, leading to unnecessary stress and time consumption within departments. For instance, recently the FRC’s enforcement committee…

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Navigating the shift: why accounting firms choose an LLP over Ltd structures

Traditionally, accountancy practices had been operating via a sole trader or a general partnership structure. Since the introduction of the Limited Liability Partnership (LLP) in 2001, many practices adopted this and nowadays, it is not uncommon to see them operate via one of the above structures, or a Limited Company…

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Key Companies House changes: what and when?

The new powers granted to Companies House signify a significant milestone in the transformation of UK company law. These changes demand compliance, while giving accountants the opportunity to remind clients of the importance of strengthening their corporate governance practices and fostering a culture of transparency, says Jonathan Barber, Executive Director…

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Today’s news in brief – 5/3/2024

Companies House has implemented new measures under the Economic Crime and Corporate Transparency Act 2023, enhancing data quality and combatting register misuse. Changes include increased powers to query information, checks on company names, rules for registered office addresses, mandatory registered email, and a lawful purpose confirmation during incorporation. Companies House…

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Companies House rolls out new changes to tackle fraud and economic crime

Companies House has rolled out new powers to improve the quality and reliability of its data and tackle misuse of its register.  The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force yesterday (4 March). The changes introduced include greater powers to query…

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Today’s news in brief – 12/2/2024

EY has reportedly borrowed over $700m (£558m) for its failed attempt to split its consulting and accountancy arms, known as Project Everest. New accounts filed at Companies House show EY’s borrowing increased to $983m (£778m) in 2023, up from $296m (£234m) the previous year. The separation plan, abandoned in April,…

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