Changes to Company Formations Following Brexit - How Will This Impact New formations?

The UK formally left the EU in January 2020. The transitional period for Brexit will remain in place until the 31st of December 2020. After this point, there will be some updates to the Companies Act, and by extension the company formation process, to reflect the UK’s position outside of the EU.

The main change affecting the company formation process is simply a technical formality. Currently, when a UK company is appointed as a director, shareholder and/or PSC, Companies House are advised that this entity is registered within the European Economic Area (EEA). This will no longer be the case as of the 1st of January 2021. Following this date, Companies House will be advised that such UK entities are registered within the UK as opposed to the EEA.

Our system will be updated to reflect this and to ensure correct and accurate information is submitted to Companies House for all new formations in 2021. However, any applications submitted on the 31st of December 2020 will be processed on the 4th of January 2021 to allow time for these technical changes to be made in the background of our site.

Aside from this minor technical change, the rest of the formation process will remain the same.

Thank you for choosing to use our services over the last 12 months. We look forward to helping you all again in the New Year.