October 20th, 2025

ECCT Act 2023: UK Company Law Changes and Compliance Guide for Businesses

The Economic Crime and Corporate Transparency (ECCT) Act 2023 introduces major changes to UK company law in 2024, designed to reduce fraud, improve corporate transparency, and modernise Companies House operations. It is part of the UK Government’s broader economic crime and anti-money laundering reforms, impacting all businesses registered or operating in the UK.

This Act builds on earlier initiatives, such as Making Tax Digital (MTD), which requires digital record-keeping to prevent tax manipulation and ensure compliance.

What the ECCT Act 2023 Means for UK Businesses

The ECCT Act 2023 requires UK companies to increase transparency of ownership and control, strengthen Companies House powers, implement mandatory identity verification for directors and persons with significant control (PSCs), and modernise financial reporting and digital filing requirements. These measures are designed to improve corporate accountability, reduce financial crime, and support ongoing anti-money laundering efforts.

ECCT Act 2023 legislation

Why the ECCT Act 2023 Matters for Company Compliance

The ECCT Act is the most significant UK corporate transparency legislation in decades. By enforcing stronger reporting, verification, and compliance requirements, the Act aims to:

Reduce financial crime and fraudulent company activity in the UK
Improve corporate accountability for directors and PSCs
Ensure alignment with anti-money laundering regulations
Maintain the UK’s reputation as a trusted environment for business

ECCT Act 2023 Compliance Requirements for Businesses

To comply with the ECCT Act, UK companies should:

Verify PSC and director information through approved identity documents
Update registered office addresses and company emails to valid physical addresses
Prepare for mandatory digital filings in line with MTD principles
Budget for increased Companies House fees
Strengthen internal compliance and audit processes

Mandatory Identity Verification Under the ECCT Act

From November 2025, all directors, PSCs, and authorised agents must verify their identity to comply with the ECCT Act 2023. Accepted forms of photo ID include:

Biometric passports
UK photo driving licences
Biometric residence permits

Non-compliance can lead to fines or restrictions on company filings, making early preparation essential.

Goodwille is an Authorised Corporate Service Provider (ACSP), fully equipped to support your company’s filing requirements efficiently and accurately. If you need assistance or have any questions, don’t hesitate to get in touch with our team: https://goodwille.com/corporate-governance/subsidiary-and-branch/

Registered Office and Email Requirements

From March 2024, UK companies must maintain a valid physical registered office (no PO boxes) and a registered email address. These details must be accurate and up to date to comply with Companies House reporting standards.

Data Accuracy and Companies House Enforcement

Companies House now has enhanced powers to:

Query or reject inaccurate company data
Remove misleading company names
Enforce compliance with filing obligations

These measures support transparency and prevent fraudulent business activity in the UK.

Financial Reporting and Digital Filing Reforms

The ECCT Act introduces mandatory digital filing for all UK companies, building on MTD requirements. Key changes include:

Submission of profit and loss accounts for small and micro-entities
Removal of abridged accounts
Stronger audit exemption statements

These reforms aim to increase financial transparency, reduce errors, and combat money laundering.

Key Implementation Dates for UK Companies

Date:	Change:
March 2024	Registered office & email rules
May 2024	Fee increases
October 2024	New enforcement powers
November 2025	Mandatory director and PSC ID verification
2026–2027	Full implementation of ECCT Act 2023

How Goodwille Supports ECCT Act 2023 Compliance

Goodwille helps international businesses expand into the UK while remaining compliant with ECCT Act 2023 regulations. Services include:

Bookkeeping and digital record-keeping for VAT and Income Tax compliance
Acting as Company Secretary & ACSP to ensure compliance with filing requirements

With over 25 years of experience, Goodwille ensures businesses focus on growth while meeting all UK company compliance obligations.

Lean more about Goodwille services here: https://goodwille.com/

Key Takeaways for ECCT Act 2023 Compliance

Mandatory identity verification for directors and PSCs begins November 2025
Companies must maintain accurate registered office addresses and company emails from March 2024
Digital filing and financial reporting reforms increase transparency and reduce fraud risk
Companies House has stronger enforcement powers; non-compliance can result in fines or sanctions
Outsourcing compliance can ensure smooth implementation and reduce operational risk