The Economic Crime and Corporate Transparency Act (ECCTA) introduces new rules aimed at improving transparency over UK Companies and other legal entities. Anyone filing on behalf of clients (such as Accountants) will need to comply with the new rules.
Bright is committed to supporting you in meeting these requirements and our Company Secretarial solution, Inform Direct offers users a comprehensive solution for all company secretarial tasks, including filing Confirmation Statements (CS01).
Inform Direct is compliant with the new regulation and as such we have discontinued the CS01 Filing feature in BrightManager.
The CS01 Automated email will remain in BirghtManager pulling the details down from Companies House and sending them to your Client but the CS01 Filing is discontinued.
To ensure a smooth transition to Inform Direct, we will provide Free access for 12 months for the number of Clients you have submitted CS01s for in the past 12 months.
This will allow you to continue filing CS01s at no additional cost. (please note Companies House standard filing fee will still apply). After your complimentary 12- month access ends, your Subscription will continue under Inform Directs standard pricing. If you Decide to not Continue you can cancel at any time before the free period expires.
FAQs - Economic Crime and Corporate Transparency Act (ECCTA) & Inform Direct
Q1: What is the Economic Crime and Corporate Transparency Act (ECCTA)?
A: ECCTA introduces new rules designed to improve transparency for UK companies and other legal entities. Anyone filing on behalf of clients, such as accountants, will need to comply with these new regulations.
Q2: How does Bright support compliance with the new ECCTA rules?
A: Bright provides the company secretarial solution Inform Direct, offering a comprehensive platform for all secretarial tasks, including filing Confirmation Statements (CS01), and is fully compliant with the new ECCTA regulations.
Q3: Why has the CS01 filing feature been discontinued in BrightManager?
A: To comply with ECCTA regulations and ensure users benefit from a fully compliant system, the CS01 filing feature has been discontinued in BrightManager and migrated to Inform Direct.
Q4: Will I have access to Inform Direct immediately to file CS01s?
A: Yes, Bright offers free access to Inform Direct for 12 months based on the number of clients you have filed CS01s for in the past 12 months, ensuring a smooth transition with no additional cost for this period (excluding Companies House filing fees).
Q5: What happens after the 12-month free access period ends?
A: After the complimentary 12 months, your subscription will continue under Inform Direct’s standard pricing. You may choose to cancel at any time before the free period expires if you decide not to continue.
Q6: Are there any additional fees I should be aware of?
A: While access to Inform Direct is free for 12 months, you will still be responsible for the standard Companies House filing fees when submitting CS01s.
Q7: Can I cancel my Inform Direct subscription anytime during the free access period?
A: Yes, you can cancel your subscription at any time before the 12-month free access period ends without incurring charges.
Q8: How will the number of clients eligible for free access be determined?
A: The free access is based on the number of clients for whom you have submitted CS01 filings in the past 12 months.