Source: Companies House
Improving the quality of data on our registers
One of the key aims of the Economic Crime and Corporate Transparency Act is to improve the accuracy and quality of the data on our registers, to help tackle economic crime and drive confidence in the UK economy.
Companies House has new and enhanced powers to query information that appears to be incorrect or inconsistent with information we hold.
Over time this will improve the accuracy and integrity of the information on the register and safeguard against misleading or unlawful activity.
What this means
We can now take a more robust approach to dealing with information that’s been provided to us by querying information and requesting supporting evidence.
We’ll remove information if it’s inaccurate, incomplete, false or fraudulent. We’ll use annotations on the register to let users know about potential issues with the information that’s been supplied to us.
We’re also taking steps to clean up the register, using data matching to identify and remove inaccurate information. We have more powers to share information with law enforcement agencies and other government departments.
What to do if we ask you for more information
You must respond quickly when we ask you for more information so that we can decide the next steps. If your case escalates to a formal query for information and you still do not respond, this is a criminal offence and there could be serious consequences including:
- A financial penalty
- An annotation on the company’s record
- prosecution
Further information about the changes
This is the second in a series of bulletins about the changes we’ve introduced under the Economic Crime and Corporate Transparency Act.
The next bulletin will focus on new rules for registered office addresses.
For more information visit Companies House website