The Government has announced measures to increase the powers of Companies House to tackle abuse of limited companies.
Announced as part of the Queen's Speech on Wednesday (10 May), the bill takes aim at economic crime in the UK which is estimated to total £8.4 billion a year.
One of the announcements the government has made is that Companies House will have more investigation and enforcement powers, which will enable them to carry out cross-checking of data with public and private sector bodies.
When the powers come into play, Companies House will be able to verify the identity of people who manage, own and control business registered with Companies House. Which the Government believe will provide more accurate data to support investigations.
Another aim of the bill is to give company directors more protection of their personal information, reducing the risk of fraud or harm.
Talk to us on how this may affect you in the near future.