The Chair states this Annual Report and Accounts for 2023 to 2024, concludes year 4 in the delivery of the strategy, and the planned programme of legislative reform passed its next major milestone with the Royal Assent of The Economic Crime and Corporate Transparency Act (ECCTA) 2023 in October 2023. This marks a significant moment in the history of the UK companies register as the implementation of the new registrar’s powers, from 4 March 2024, brings about the biggest changes since 1844.

Performance highlights 2023 to 2024 are in the list below.

• Total filings accepted digitally: 12.7 million
• UK register size (as at 31 March 2024): 5.35 million
• Incorporations: 890,684
• Dissolved companies: 663,167
• In liquidation: 109,352
• Companies in course of dissolution: 365,033
• Companies restored: 7,648
• Register of Overseas Entities: 30,776
• Paper purchase A4 ream equivalent: 3,174
• Rate of confirmation statements filed by companies as at 31 March 2024: 97.3%
• Number of times the register was accessed: 16 billion
• Rate of annual accounts filed by companies as at 31 March 2024: 98.3%
• Total filings accepted digitally: 13.1 million
• Total filings accepted: 14.3 million
• Digital take-up: 92%
• Customer satisfaction: 82%

Steve O’Neill on behalf of BTC is a Registered Agent for the registration process of overseas entities.

Action required prior to application for registration

Identification of registrable beneficial owners -Before making an application to register, an overseas entity must take reasonable steps to identify its registrable beneficial owner and obtain the required information. The steps that an overseas entity must take include giving an information notice to a person it knows, or has reasonable cause to believe, is a registrable beneficial owner. Continue reading “Registration of Overseas Entities on the UK Register of Overseas Entities”