[NEW] Authorised Corporate Service Providers (ACSPs) to register at the UK companies' house.

All third-party providers must register their business as an Authorised Corporate Service Provider (ACSP) with The UK COMPANIES HOUSE [UKCH] before they can submit information and carry out identity verification checks on their clients.

WHY IS THIS HAPPENING?

• It’s vital that UKCH knows who’s filing information on the public register to ensure the information we hold is accurate, transparent, and not being used for fraudulent purposes.
• However, UKCH does not have a complete picture of who’s filing this information.
• Identity verification is essential to the Economic Crime and Corporate Transparency Act.
• Under the act, UKCH will be required to verify the identity of anyone submitting information to the public register, including those acting on behalf of a company.

WHEN?

• From 25 February 2025, you can apply to become an ACSP using UKCH's new ‘Apply to register as a UKCH authorised agent’ service.

WHO?

• Authorised Corporate Service Providers (ACSPs) are individuals or organisations that undertake anti-money laundering (AML) supervised activity, such as:    
• Company formation agents.   
• Solicitors   
• Accountants
• Chartered secretaries and governance professionals  

Over the coming months, UKCH will explain when these changes will occur.

LONGER READ……………………..

Becoming an ACSP 

To become an ACSP, agents must be supervised within the UK by one of the relevant Anti-Money Laundering (AML) supervisory bodies, such as:  

• HMRC  
• Financial Conduct Authority  
• The Insolvency Practitioners Association  

 There are 25 supervisory bodies in the UK in total.

• You can find a full list of supervisory bodies on GOV.UK.   
• https://www.gov.uk/anti-money-laundering-registration

Registering as an ACSP with UKCH

• If you hold a senior business role, such as a director or sole trader, you’ll need to complete a registration process to register your business as an ACSP.
• From 25 February 2025, you can apply to become an ACSP using our new ‘Apply to register as a UKCH authorised agent’ service.  
• You will be asked to complete identity verification and provide information about the business as part of the application. 
• You’ll also need to pay a £55 registration fee.
• Once registered, you’ll receive a new digital account and unique identity number. This will allow you to file information and complete identity verification for your clients.  
• Once the business is registered and approved, the person registering it as an ACSP can add other people who work for the company to the authorised agent account. 
• UKCH house publishes guidance on GOV.UK in early February 2025 to help you with your responsibilities.  

You can read more about ACSPs.  - https://companieshouse.blog.gov.uk/2024/09/13/authorised-corporate-service-providers-what-you-need-to-know/

Why is UKCH introducing identity verification?

• UKCH's new powers will make the information UKCH hold more accurate and transparent.
• It will also allow UKCH to work more effectively with regulators and supervisory bodies through data and intelligence sharing.
• Requiring third-party agents to register their businesses and verify their identities will allow UKCH to confidently identify who is filing on the register and acting on behalf of companies.
• UKCH will also be able to quickly identify when an agent may not be acting with a lawful purpose and
• UKCH House will be able to take action. This will help UKCH effectively protect lawful businesses and the public.

Authorised Corporate Service Providers (ACSPs)

• In the future, all third-party providers will need to register their business as an Authorised Corporate Service Provider (ACSP) before they can submit information and carry out identity verification checks on their clients.
• Over the coming months, the UKCH house will explain when these changes will take effect.
• An ACSP is a business that’s covered by Money Laundering Regulations, such as:
• Professional Service Providers (for example, accountants and solicitors)
• Trust and Company Service Providers (for example, company formation agents)

Standards to Become an ACSP

To become an ACSP, agents must be supervised within the UK by one of the relevant Anti-Money Laundering (AML) supervisory bodies, such as:

• HMRC
• Financial Conduct Authority
• The Gambling Commission

There are 25 supervisory bodies in the UK in total. You can find a complete list on GOV.UK.

• As part of the ACSP registration process, UKCH House asks for the business's AML supervisory body membership number, sometimes called an ID number. It’s essential to ensure this is accurate.
• Agents who operate as sole traders or are part of a company not registered with UKCH will still need to register as an ACSP, but they will be asked for more details. This is so UKCH can cross-reference the information provided with the AML supervisor’s data, as UKCH does not hold any records for non-incorporated companies.
• If you’re a software provider filing information on behalf of a company or third-party provider, you’ll also need to register as an ACSP. You’re now included in the new legislation because you’re responsible for filing information on the register through your software service.
• The registrar has new powers to ensure compliance with ACSPs. This includes suspending or ceasing an ACSP, for example, if the registrar has reason to believe an ACSP is no longer a fit and proper person.

Registering to become an ACSP

• If you hold a senior role within the business, such as a director, you must complete a registration process to register your business as an ACSP. You'll be asked to complete identity verification as part of the application.
• You’ll provide information about the business, which you must keep updated once registered as an ACSP. If your business is a sole trader, you must provide additional information, such as your name and date of birth.
• Once registered, the ACSP will receive a new digital account and a unique identity number. This will allow them to file information, complete identity verification checks for their clients, and enable UKCH to identify that the information has come from an authorised source.
• Once the business is registered as an ACSP, the person registering it can add other people who work for the business to the ACSP account. These employees will not be subject to identity verification but will be allowed to access services on behalf of the authorised agent, such as carrying out identity checks and filing accounts for clients.

Next steps

• The new registration service, combined with an intelligence and enforcement process, will help UKCH maintain the accuracy of the information agents provide. This will help protect the public and disrupt fraud.
• You do not need to do anything if you're an agent. UKCH house announces when the registration service will launch in advance to give you plenty of time to prepare, and UKCH house publishes guidance on GOV.UK to help you with your responsibilities.
• In the meantime, you can get ready by making sure you understand:
• The standards you need to meet before applying to become an ACSP
• Where to find your AML membership number

SOURCE

• https://changestoukcompanylaw.campaign.gov.uk/authorised-corporate-service-providers/?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=
• https://companieshouse.blog.gov.uk/2024/09/13/authorised-corporate-service-providers-what-you-need-to-know/
• https://www.gov.uk/government/organisations/companies-house