What is an Authorised Corporate Service Provider (ACSP)?

An Authorised Corporate Service Provider (ACSP) is a business or individual in the UK that is authorised under Money Laundering Regulations to act as an intermediary between registrable entities and Companies House. ACSPs are integral to maintaining corporate transparency and are approved to verify identities and file official documentation with Companies House on behalf of their clients.

This article explains the role of ACSPs, the businesses eligible to register, and the process of becoming an Authorised Corporate Service Provider.

The Role of Authorised Corporate Service Providers

The concept of ACSPs was introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). Once this legislation comes into effect, intermediaries such as accountants and company formation agents who submit filings to Companies House must register as ACSPs to continue their work.

Key Responsibilities of ACSPs

1. Identity Verification Checks

   • ACSPs will perform identity verification checks on individuals involved with registrable entities. This includes:

     • Company directors

     • Secretaries

     • People with Significant Control (PSCs)

     • Partners in limited liability partnerships (LLPs) or limited partnerships

     • Anyone submitting filings on behalf of a company

       
       

   • Verification involves cross-referencing a primary ID (e.g., passport or driving licence) with a photo of the individual, using likeness-matching technology.

     
     

   These checks aim to enhance corporate transparency, prevent fraudulent activity, and improve the accuracy of data registered with Companies House.

   
   

2. Filing Information with Companies House

   • ACSPs submit key information on behalf of their clients, including:

     • Company registrations

     • Annual confirmation statements

     • Changes to company details (e.g., directors, registered office addresses)

     • Annual accounts

   
   

By handling these responsibilities, ACSPs ensure that filings are compliant and facilitate seamless communication between companies and Companies House.

Who Can Register as an ACSP?

Any individual or organisation supervised by a recognised Anti-Money Laundering (AML) body in the UK can register as an ACSP. Eligible supervisory bodies include:

• HM Revenue & Customs (HMRC)

• Financial Conduct Authority (FCA)

• Association of Chartered Certified Accountants (ACCA)

  
  

Types of Businesses Likely to Become ACSPs

• Company formation agents

• Company secretarial service providers

• Accountants, tax advisers, and auditors

• Solicitors and independent legal professionals

• Professional trustees

• Businesses offering virtual office or mail-forwarding services

• Software providers facilitating Companies House filings

• Estate and lettings agencies

  
  

These businesses are already filing information with Companies House on behalf of their clients, making them well-suited to register as ACSPs.

How to Register as an Authorised Corporate Service Provider

While the registration process is not yet available, Companies House will announce when the system launches. At that time:

1. A senior representative (e.g., a director or sole trader) must register the business as an ACSP.

2. The registration process will require:

   • Proof of membership with an AML supervisory body (e.g., membership number).

   • Identity verification of the individual completing the registration.

3. Once approved, the ACSP will receive:

   • A digital account.

   • A unique identity number for conducting identity checks and submitting filings.

     
     

Maintaining ACSP Registration

• Registration details must be kept up to date with Companies House.

• Additional staff within the business can be authorised to conduct activities on behalf of the ACSP (e.g., identity verification, filings), although they won’t undergo individual identity checks.

  
  

The Benefits of ACSP Registration

1. Enhanced Transparency:

   • ACSPs improve accountability by verifying the identities of individuals filing with Companies House, reducing fraud and enhancing data reliability.

2. Streamlined Processes:

   • Registered ACSPs have a direct link to Companies House, making the submission of documentation faster and more secure.

3. Credibility:

   • Businesses registered as ACSPs gain a mark of authority, reassuring clients that their filings are handled by a trusted provider.

4. Compliance with Legislation:

   • ACSP registration ensures continued compliance with new UK corporate regulations, avoiding disruption to operations.

The introduction of Authorised Corporate Service Providers (ACSPs) is a pivotal step in bolstering corporate transparency and combating economic crime in the UK. By performing identity verification and managing filings with Companies House, ACSPs play a crucial role in ensuring businesses operate within the law.

As the registration system becomes available, organisations must prepare to meet the requirements for becoming an ACSP. This involves ensuring AML supervision and readiness to comply with identity verification and filing standards. Businesses already providing intermediary services, such as accountants, solicitors, and company formation agents, should act promptly to secure their registration and maintain their operations without interruption.