The UK government’s newly unveiled shake-up of corporate transparency legislation and Companies House will disproportionately hinder the already struggling small business population, according to Sanjay Parmar, partner at Grunberg & Co.
“The government’s whitepaper in connection with reforming Companies House will increase the amount of red tape for small businesses who, under the current economic climate, are already struggling to run their businesses”.
On 28th February 2022, the Department for Business, Energy and Industrial Strategy published a whitepaper setting out its final proposals on the reformation of Companies House. The government hopes the changes will improve business transactions and tackle economic crime.
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