Shropshire business owners urged to take action - as government tightens up Companies House ID measures
Shropshire's chamber of commerce has welcomed new rules aimed at tightening up company ownership in the UK.
From November, the Government is set to roll out new identity measures aimed at improving verification for business owners at UK companies.
Companies House estimates that between six and seven million individuals will be affected, with more than 300,000 people already signed up during the current voluntary period which started in April.
Now, Shropshire companies are being urged to update themselves on the new rules, while Shropshire Chamber of Commerce with legal requirements for directors and people with significant control of companies set to change from November 18.
“This is good news for anyone in business as it will introduce stricter protection levels over company data which in today’s world of ever-increasing cyber crime can only be a positive step," said Shropshire Chamber CEO Ruth Ross.
“We would urge all company owners and directors to take action as soon as possible after the deadline is introduced to ensure they are able to meet the new requirements and that they comply with the new rules.”
Ruth said the new rules would provide more assurance for everyone about who is setting up, running, and controlling companies in the UK.
“The move will mean companies of all sizes will be able to access more accurate and trustworthy data from the Companies House register, as well as providing more protection against corporate fraud.”
Business owners should only need to verify their identity once and that can be done through Gov.UK One Login – which is free and can be completed quickly online – or through an Authorised Corporate Service Provider.
“When verification is completed, each person will receive an individual code from Companies House which they will need to provide alongside a verification statement for reach company role that they hold,” said Ruth.
“Companies House will contact companies individually to tell them what their directors and PSCs need to do to meet the new requirements, but we would urge anyone affected to verify their identities as early as possible after the November deadline.”
