Government launches consultation on Companies House reforms
The government has launched a consultation on new Companies House reforms, including a ‘major upgrade’ of its register.
The consultation aims to tackle misuse of the register. It also strives to provide business owners with ‘greater protection from fraud’.
Some of the key measures proposed by the government include a ‘robust’ identity check for company directors and people with significant control; a cap on the number of directorships an individual can hold simultaneously; and new systems to ‘better protect’ the personal information that is held on the Companies House register.
The government also advocates creating a more sophisticated method of identifying criminal activity. It has proposed establishing effective links between the records held by Companies House and other government bodies, so that anomalies can be identified sooner.
Louise Smyth, Chief Executive of Companies House, said: ‘This package of reforms represents a significant milestone for Companies House as they will enable us to play a greater part in tackling economic crime, protecting directors from identity theft and fraud, and improving the accuracy of the register.’
The consultation is open until 5 August 2019.