Harvey / 09 April 2025 / Categories: Opinions, Bodies & Groups, Government

Companies House Verify Your Business Identity in the UK

It’s the law

To quote the hilarious US comedian Bill Maher

“ Trump says the U.S. economy is just going through a “period of transition.” Yes, America’s “transitioning.” Our new pronouns are what/the/fuck”

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If Brexit and war, tariffs and trade, stock market crashes and billion dollar wipe outs wasn’t enough to finish off your business just wait, in the UK, there’s more.

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Did you know according to a press release out last week 8th April, 2025 that the British government has changed to law to ensure all business owners in the Uk verify their identity.

From the 8th of April anyone with a UK company registered at companies house will be able to voluntarily have their identify verified. Not sure how the Press release didn’t say that.

More than 6 million individuals will be forced to comply in a 12 month period after the identity verification goes into UK law later in the year. It is suggested by the Autumn 2025.

The government states this phased, softly softly approach reduces the burden on companies. I am not so sure about that.

The arguments in favour of this Big Brother approach many companies are sick of, preferring less red tape and government induced work load are of course cracking down on criminals, money laundering, tax invasion and general bad behaviour.

The new powers granted to companies house sit in the Economic Crime and Corporate Transparency Act 2023.

The idea is to provide more assurance as to exactly who is setting up and running UK companies, something we clearly don’t have a handle on at present.

Shevaun Haviland, Director General of the British Chambers of Commerce said:

The introduction of these new security measures will be welcomed by the thousands of genuine businesses who want to know that fraudsters and criminals cannot masquerade as legitimate concerns.

Protecting the names of good firms and making it harder for those with dishonest motives to set up a business can only be a good thing.

Errrrr well that’s one point of view.

Glenn Collins, Head of Technical and Strategic Engagement at the Association of Chartered Certified Accountants (ACCA) said:

We recognise that businesses, including agents will take some time to get used to the changes and extra requirement. We expect our members to be busy advising and helping companies of all sizes adapt to these new regulations.

Well at least there’s more work for the accountants.

As a business owner myself whilst I may appreciate cracking down on things like the nail shops and barber shops and the very obvious network of money laundering cash based businesses that have been allowed to grow and spread and it is important to clean up our business community I think the motive for this change in the law is a little more sinister.

Why would any government in the midst of tariffs and trade wars national insurance rises the threat of inflation and when business growth is the only thing that is going to save us put this burden on business right now when they are crumbling and struggling to stay afloat.

I think simply put we’ve got absolutely no money in the coffers and they have to get it from some where.

And you heard it here first, don’t be surprised if there’s a charge like your passport for this verification service at companies house, yeah of course there will be.

I suggest if you can stomach it do the voluntary thing, at least you won’t have to pay as well.

Every time we do this, vote Labour and the same thing happens, Rishi Sunak did warn us we’d have to pay one way or another.