A Practical Guide to Identity Verification Under the Economic Crime and Corporate Transparency Act 2023

This book provides a practical, user-friendly guide designed to steer advisors through the new (and continually developing) laws surrounding identity verification under the Economic Crime and Corporate Transparency Act 2023, including how to practically navigate compliance.

It is suitable for any firms or sole traders registered or registering as an Authorised Corporate Service Provider ("ACSP"), anyone advising or working with companies, directors or people with significant control; together with anyone involved in filing documentation at Companies House.

A Practical Guide to Identity Verification Under the Economic Crime and Corporate Transparency Act 2023 covers the fundamentals under the new legislation, including who is required to verify their identity, deadlines and extensions, how individuals may verify their identity directly with Companies House, how to register as an ACSP (including how to avoid common pitfalls) and how ACSPs can meet the Companies House standards (including discussions surrounding risk analysis). It further details how ACSPs can comply with their legal responsibilities (and how to address ACSP verification errors).

The book includes practical suggestions throughout, including ways to tackle potential difficulties and pragmatic tips (including key items for ACSPs to consider).

CONTENTS

Chapter One - Why Identity Verification Is Being Introduced (And Consequences for Failure to Comply)

Chapter Two - Who Is Required to Verify Their Identity (Including How the Process Fits in With Appointment of New Directors and Who Can File on Behalf of Whom)

Chapter Three - Timing for Verification

Chapter Four - How to Verify Directly With Companies House

Chapter Five - How to Become an Authorised Corporate Service Provider

Chapter Six - How to Comply With Your Requirements as an Authorised Corporate Service Provider (And Consequences of Failure to Comply)

Chapter Seven - How to Comply With Verification Standards for Clients

Chapter Eight - Key Differences Between Anti Money Laundering Checks and Identity Verification

Chapter Nine - Conclusions and Future Developments

Chapter Ten - Useful Links