What is an ACSP?
An Authorised Corporate Service Provider (ACSP) is a business supervised under UK Anti-Money Laundering (AML) regulations and registered with Companies House to carry out identity verification checks and submit filings on behalf of clients.
Only registered ACSPs are authorised to complete identity verification for directors, PSCs and other individuals involved in company filings under the new Companies House framework.
Our ACSP registration enables us to:
- Verify the identity of new directors before appointment
• Verify existing directors under the new Companies House requirements
• Conduct PSC identity verification
• Submit verified information directly to Companies House
• Act as an authorised intermediary for company filings
PSC Verification and Directors
A Person with Significant Control (PSC) is an individual who owns or controls more than 25% of shares or voting rights or otherwise exercises significant influence or control over a company. Under the updated requirements, PSCs must also undergo identity verification.
The same requirements apply to company directors.
Failure to comply can result in:
- Rejected filings
- Restrictions on company
- Financial penalties
- Potential criminal consequences for non-compliance
Why This Matters for Your Business & How we can help
The new reforms introduced by the Economic Crime and Corporate Transparency Act 2023 are designed to improve corporate transparency and reduce financial crime in the UK.
Companies that fail to complete identity verification correctly may face delays in filings, restrictions on company operations, or regulatory penalties.
By using a certified ACSP such as WIM Accountants, businesses can ensure compliance with Companies House requirements while reducing administrative burden and risk.
