The Economic Crime and Corporate Transparency Act 2023 introduced significant reforms to Companies House procedures and powers, with the first phase taking effect from 4 March 2024. These reforms aim to enhance the reliability and usability of the company register, protect individuals and businesses from fraud, and prevent the misuse of UK companies by international money laundering networks.

The Department for Business and Trade has released a progress report on the Act’s implementation and operation, committing to annual updates until 2030. According to the report, from 4 March to 1 April 2024, Companies House has:

– Removed 4,000 inappropriate registered office addresses.
– Eliminated 2,100 officer addresses and 2,300 addresses of people with significant control.
– Redacted 3,600 incorporation documents to remove personal data used without consent.
– Removed 1,250 documents from the register, including 800 false mortgage satisfaction findings, which previously required a court order for removal.
– Contacted 3,800 companies using PO Boxes as their registered office address to inform them of non-compliance and request an appropriate alternative address. By 1 April 2024, the number of companies using PO Boxes was reduced to 1,900.

Additionally, Companies House has implemented further changes to the company setup process, making it much harder to file anonymously and discouraging attempts to hide company ownership through nominees or opaque corporate structures.

For the full report, visit: [Economic Crime and Corporate Transparency Act 2023 Progress Report](https://www.gov.uk/government/publications/economic-crime-and-corporate-transparency-act-2023-progress-report).