Companies House delays corporate provider registration

Companies House has paused the launch of its registration service for authorised corporate service providers (ACSPs), originally set for 25th February, to address final testing requirements. This service forms a key part of the Economic Crime and Corporate Transparency Act 2023, designed to enhance transparency and combat fraud in corporate filings.

A Companies House spokesperson stated that they are transforming their technology infrastructure to implement new measures under the Act and have built in time to ensure everything operates properly before customers are required to comply with changes. They added that certain areas within the service require final testing and that these will be addressed ahead of launching to ensure a seamless experience for customers.

Delays and impact on service providers

The registration of ACSPs is an essential part of the government's efforts to strengthen anti-money laundering (AML) controls. Companies House has millions of customers and facilitates tens of millions of company searches daily, making the efficiency of its services critical. The organisation has confirmed it will share updates on the revised launch timeline once it is confident the service meets its high standards.

Stricter compliance requirements under new regulations

Previously, law firms, accountants, and company formation agents could file documents with Companies House without formal regulatory oversight. Under the new regime, only registered ACSPs will have the authority to make key filings, ensuring that businesses comply with enhanced AML checks. However, these new requirements are expected to increase operational costs and risks for firms providing corporate services.

Market shifts and the rise of specialist providers

Many law firms and service providers may choose to exit the market due to the additional compliance burdens, leading to a consolidation within the sector. Firms that specialise in company formations and regulatory compliance are expected to gain market share as other providers scale back or discontinue these services.

ProSec, a firm already supporting law and accountancy firms in outsourcing company secretarial services, is among those preparing to register as an ACSP as soon as applications open. Naomi Rich, Chief Operating Officer at ProSec, said some firms currently offering corporate services will likely reconsider their position. She noted that even established national and international law firms are outsourcing this work to ProSec because the increased cost and risk profile means it no longer makes business sense for them to continue. She added that ProSec has already seen business growth ahead of this announcement and expects this trend to continue as firms leave the market.

Implementation timeline and industry preparation

These regulatory changes will be introduced gradually throughout 2025 and into 2026. Service providers must begin adapting now to ensure they meet compliance requirements and are prepared for the new filing regime. With the registration service launch postponed, industry stakeholders will be monitoring updates from Companies House to determine the next steps in the process