For years the UK company register was easy to abuse — shell companies, fake addresses, hidden owners. The 2023 Economic Crime and Corporate Transparency Act began to change that, giving Companies House real powers to verify identities and strike off bad entries. It is reshaping the company population itself, which is exactly the layer GalimAI maps.
What GalimAI’s own data reveals
GalimAI’s entire value rests on knowing who is really behind a property-owning company — so a reform that verifies identities and removes fakes strengthens the picture. Across the 463,022 property-owning companies and 1,000,000+ owners we map, cleaner source data means sharper links between a company, its named people and its distress signals, and a clearer view of dissolutions and strike-offs.
It also reshapes behaviour. As shells get harder to maintain, ownership patterns shift — visible in our work on newly formed companies and family structures. GalimAI reads the register as it is being cleaned, not as it used to be.
What changed: the 2023 reforms, in plain terms
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) gave Companies House its biggest overhaul in 180 years. The first powers took effect in March 2024: the ability to query and reject suspicious filings, require genuine registered-office addresses, and ultimately verify the identity of directors and people with significant control (PSCs).
The cleanup has been tangible. Since March 2024, Companies House has removed false entries across 82,600 registered-office addresses, 66,900 officer addresses and 55,100 PSC addresses, and gained new powers to annotate the register, fine, and strike off companies. Identity verification began rolling out for in-scope individuals from 2025.
The public backdrop
| Indicator | Figure | Note |
|---|---|---|
| Act | ECCTA 2023 | Biggest reform in 180 years |
| First powers | March 2024 | Reject filings; require real addresses |
| False addresses removed | 82,600 | Registered-office addresses since 2024 |
| Officer / PSC addresses removed | 66,900 / 55,100 | Further cleanup |
A cleaner register is a more trustworthy map of ownership. That is the foundation GalimAI builds on — and the reform is strengthening it.
The most plausible mechanism
The channel is verification and enforcement. By checking identities and removing false data, the reform raises the cost of hiding behind a shell — pushing some structures to close and forcing real owners into view. The large volumes of removed false entries are the early evidence. We present this as a clear, well-documented shift in the register’s integrity, while noting that full identity verification is still being phased in, so the effect is building rather than complete.
Sources
The proprietary figures in this study (the 463,022 companies, 1,000,000+ owners and the distress signals) are GalimAI first-party data. The public background figures are drawn from:
- The impact of the Economic Crime and Corporate Transparency Act on Companies House - Companies House blog
- ECCTA: outline transition plan for Companies House - GOV.UK
Frequently asked questions
What did the 2023 Companies House reform do?
The Economic Crime and Corporate Transparency Act 2023 gave Companies House powers to reject suspicious filings, require genuine addresses and verify directors' and PSCs' identities. The first powers took effect in March 2024.
How big has the cleanup been?
Since March 2024, Companies House has removed false entries across 82,600 registered-office addresses, 66,900 officer addresses and 55,100 PSC addresses, with new powers to fine and strike off companies.
What does GalimAI's data show?
GalimAI maps 463,022 property-owning companies and 1M+ owners. A cleaner, verified register sharpens the links between a company, its real people and its distress signals - strengthening the ownership picture GalimAI is built on.
Is the reform finished?
No - it is a shift in progress. Identity verification was still rolling out through 2025, so the effect on the company population is building rather than complete.