Companies House has implemented a new regime of penalties aimed at improving compliance and transparency in the UK's company register, focusing on cracking down on misuse and economic crime.
The new powers, granted under the Economic Crime and Corporate Transparency Act 2023, empower Companies House to take civil action, disqualify directors, and pursue criminal prosecution for serious non-compliance.
Martin Swain, Director of Intelligence and Law Enforcement Liaison at Companies House, stated, 'These new penalties mark a significant step forward for Companies House... to firmly, but fairly, enforce the law.'
The agency emphasizes that while it will support businesses in meeting legal obligations, it won't hesitate to use its new powers when necessary, signaling a robust enforcement approach.
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