The Law Society of Scotland has addressed forthcoming changes to Companies House ID verification processes in an article dated 23 January 2025, with an update on 24 February 2025. Under the Economic Crime and Corporate Transparency Act, firms supervised under anti-money laundering (AML) regulations—such as Professional Service Providers like solicitors and accountants, and Trust and Company Service Providers like company formation agents—will soon need to register as Authorised Corporate Service Providers (ACSPs). This registration will enable them to perform identification verification checks for clients submitting information to Companies House, aiming to ensure accuracy and transparency in the public register and prevent fraudulent activities by verifying the identities of all individuals involved.
The ACSP registration service was initially set to launch on 25 February 2025, but Companies House has delayed this, citing areas of the service requiring final testing. A new launch date is yet to be confirmed, though full guidance is expected in early February. The measure targets firms covered by the Money Laundering Regulations, reinforcing their role in maintaining the integrity of corporate data. Companies House introduced this as part of a broader effort to combat economic crime, focusing on verifying those submitting information, including on behalf of companies.
For firms and professionals affected, the requirement to register as ACSPs marks a significant shift, positioning them as key gatekeepers in the verification process. The Law Society of Scotland notes that further information and updates are available on the Companies House website, urging those impacted to stay informed as the changes unfold. While the delay highlights logistical challenges, the core objective remains: enhancing trust in the public register through rigorous identity checks.