There is just one week to go before the Government’s new compulsory identity and verification (IDV) regime commences at Companies House.
Compulsory IDV comes into effect from Tuesday 18 November and will be phased over a period of 12 months to promote a smooth transition for companies and business owners.
Rebecca Robinson, director in the company commercial team at Wake Smith, looks at the deadline and immediate actions.
All individuals who are, or are to become, directors, members of limited liability partnerships (LLP Members) and/or persons with significant control (PSCs) of UK companies must provide their details and verify their identity through GOV.UK.
For a director, failure to comply with IDV means it will be an offence to act as a director and you and the company may face fines. Unless all directors have verified their identity, the company will not be unable to file its confirmation statement or statutory accounts.
The move hopes to result in more accurate and trustworthy register data and provide greater protection against fraud.
Most individuals should only be required to verify their identity once, regardless of the number of appointments they hold.
How do I do this?
- To verify your identity with Companies House go through GOV.UK One Login, or through an Authorised Corporate Service Provider (ACSP).
- Once you have successfully verified your identity you will receive a personal code from Companies House.
- If you verified your identity through GOV.UK One Login, you’ll be able to view your personal code in the ‘manage account’ section of your Companies House account.
- If you verified your identity using an ACSP, you’ll receive your personal code by email.
- Keep a record of your personal code, as from 18 November, all users will need to provide their personal code and verification statement confirming they have successfully verified their identity for each company role they hold.
For further advice contact the Corporate team at Wake Smith Solicitors on 0114 266 6660.