Corporate

Companies House reform

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) has introduced a number of company law reform measures, which are being introduced in stages. Compulsory ID verification for new directors of UK companies (and overseas companies with UK branches), LLP members and people with significant control (PSCs) who are individuals came into force on 18 November 2025; the ongoing transitional deadlines for existing directors, LLP members and PSCs depend on the positions they hold. ID verification is expected to be expanded to apply to relevant officers of certain corporate PSCs ("Relevant Legal Entities") and corporate general partners of limited partnerships.

By no earlier than November 2026, ECCTA will require that any individual delivering documents to Companies House, either on their own behalf or on behalf of another, will need to have their identity verified, unless they are an employee of an Authorised Corporate Service Provider (ACSP). It is expected that a prohibition on the use of corporate directors will be introduced, subject to certain exemptions. Limited partnership law will be reformed, requiring more information to be submitted to Companies House. For an overview of upcoming Companies House reform, including links to more information on the ID verification process, please see our briefing: Companies House reform: what has changed and what is still to come?

PISCES

Interest has been increasing in the Private Intermittent Securities and Capital Exchange System (PISCES), a framework for a new type of trading platform that enables intermittent trading of private company shares. Institutional investors, employees of participating companies and high net worth or sophisticated investors will be able to trade shares. Four PISCES platform operators had been approved by the FCA as of July 2026: the London Stock Exchange, JP Jenkins, Asset Match and Vestd. The first trade under the PISCES framework took place in March 2026. It is hoped that PISCES platforms will be used as a way to provide liquidity in the shares of later-stage private companies and may act as a bridge between private and public markets for those companies ultimately looking to an IPO. For the latest news on PISCES, please see our series of website briefings, the most recent of which is here: PISCES takes flight: the first trades on the UK's new private company trading platforms.

UK corporate re-domiciliation

Re-domiciliation enables a company incorporated in another jurisdiction to change its place of incorporation while maintaining its legal identity as a corporate body. Where re-domiciliation is not possible, as is currently the case in the UK, a business would need to incorporate a new company in the UK and then transfer its business and operations to that new entity. Following consultation and expert panel recommendations, the Government has confirmed its intention to implement an inward only re-domiciliation regime, to be administered by Companies House. For companies choosing to relocate to the UK, re-domiciliation gives maximum continuity over their business operations, because the business continues in its existing form in the existing body corporate. Implementation of a UK corporate re-domiciliation regime will require primary legislation to make the required changes to company and tax legislation. The Government plans to introduce legislation as soon as possible “when parliamentary time allows.” The Government's consultation on implementation closed on 19 June 2026. For more details and issues to consider, please see our briefing: UK corporate re-domiciliation regime: Government consults on implementation.