Pakistan
Economic Crime and Corporate Transparency Act (ECCTA) 2023
Economic Crime and Corporate Transparency Act (ECCTA) 2023
Stay compliant with the ECCTA with expert support from FinAccounTax.
Is your business ready for the ECCTA?
The ECCTA has given more power to Companies House by introducing stringent measures to combat financial crime, enhance corporate transparency and strengthen the integrity of financial systems.
Ensuring that your operations and processes are compliant with the regulation as it rolls out is essential to avoiding serious financial and legal penalties. FinAccounTax can help.
ID verification becomes mandatory on 18 November 2025
Get compliant and secure your Companies House personal code online now.
What does the ECCTA mean for your business?
Enhanced Compliance Requirements
Businesses face stricter compliance, due diligence and reporting requirements under the ECCTA. This includes verifying director and persons with significant control identities and tougher registry filing requirements.
Increased regulatory scrutiny
Expect increased information sharing with regulators, leading to more audits and investigations into business affairs with penalties for non-compliance.
Impact on business operations
The ECCTA impacts business operations, including corporate structure management and internal controls. Businesses must adapt practices to meet new standards.
Risk management
The ECCTA emphasises risk management where businesses must identify, assess and mitigate economic crime risks through robust internal controls and monitoring.
How FinAccounTax can help you navigate the ECCTA compliance
Identity verification
As an Authorised Corporate Service Provider (ACSP) we provide an end-to-end identity verification service, including Personal Code application, to Companies House for directors, persons with significant Control and LLP members.
ECCTA health check
A comprehensive review of your UK entities to identify areas of risk and non-compliance and provide expert advice on how to comply with the ECCTA obligations.
ECCTA awareness training
CPD certified online director and senior manager training course to ensure your team understands and adheres to the new legal duties and obligations of the ECCTA.
FinAccounTax's trusted by global businesses
Learn more about the ECCTA
Nearly 80% of firms have no process in place for ID verification
Our survey of 100 UK directors found only 21% of firms are compliant with the ID verification obligations of the ECCTA. Get ahead of the curve before the mandatory deadline with expert support from FinAccounTax.
In the media
Date set for company directors to face new ID checks – how to avoid paying hundreds on verification
CityAM
25 July 2025
Economic Crime and Corporate Transparency Act
Your questions answered
How does the ECCTA impact UK-based legal entities?
All UK registered companies need to comply with the new requirements as set out in the ECCTA. This includes any global entity with a UK nexus. In order to be compliant, companies must:
- Ensure that the identities of directors of companies, as well as the identities of PSCs, including where Relevant Legal Entities of companies are listed, individuals within limited liability partnerships and limited partnerships are registered by submitting IDV documentation to Companies House.
- Ensure corporate structures are transparent and legally compliant.
- Keep statutory records up to date and provide accurate ownership disclosures.
What are the consequences of non-compliance?
Failure to comply with the ECCTA regulations may result in:
- Financial penalties for companies and individuals.
- Restrictions on company operations.
- Possible criminal liability for directors and officers.
- Reputational damage and increased regulatory scrutiny.
What should businesses be doing now to prepare for the IDV requirements?
- Assess the impact of the ECCTA on your company.
- Engage with an Authorised Corporate Service Provider (ACSP) to facilitate compliance.
- Gather and verify the necessary IDV documentation.
- Submit required disclosures to Companies House before the mandatory deadline.
Have a question about complying with ECCTA’s ID verification requirements?
Get in touch with our ECCTA experts