Going forward Companies House will ‘change its statutory role from being a largely passive recipient of information to a much more active gatekeeper over company creation and custodian of more reliable data’, said Lord Callanan, the minister for business.

It will also change the accounts filing requirements for small and micro companies.

As yet, there is no timetable for introduction of the new rules which will be brought in through statutory instrument. However, this is a priority for government and will be part of the Economic Crime Bill.