When will identity verification be implemented?
There is currently no date for when identity verification will be implemented. There are two reasons for this. Firstly, secondary legislation is required to determine what it means for a person’s identify to be verified. Policy-makers will need to consider what it means for someone’s identity to be verified and what independent evidence will be required to achieve this verification. They will also need to consider documents that are not in English and what will happen if someone is not able to provide typical identification documents. Legislation is also required to apply the requirements to LLPs. Secondly, the successful implementation of these ambitious reforms will depend critically on the resources available to Companies House. As the detail on identity verification is determined, Companies House will need to invest heavily in human resources and digital systems to receive and process the new data. For example, new digital systems will be required if a person’s identity is to be verified once for multiple companies (as envisioned in the Government’s White Paper on the subject).