Companies House collects just £1,250 in fines in corruption crackdown
The UK government agency responsible for overseeing a national register of companies has collected just £1,250 in fines after being given new powers to crack down on corruption, it has emerged.Companies House is implementing a series of reforms, amid embarrassing revelations about fraudsters and jokers signing up to the corporate register with names such as “Darth Vader” and “Santa Claus”.Measures include new identity verification checks for directors, after the agency admitted that up to 20% of the 4.9m companies on its database may have submitted false information.Since last autumn, the agency has also had powers to impose financial penalties for failure to comply with its rules, such as the requirement to file ownership information on time.
In response to a parliamentary question from Liam Byrne, the chair of the business select committee, the government said 234 penalties had been issued since October last year, with a combined value of £58,500.However, Justin Madders, a junior minister at the Department for Business and Trade, admitted that Companies House had only managed to collect £1,250, about 2% of the total.“Action to collect penalties will accelerate during summer 2025.Outstanding penalties will be referred to debt collection and litigation where appropriate,” Madders said.Byrne said the low level of fines contributed to wider concerns raised by his committee about the progress of reforms to Companies House, including a 20% vacancy rate for digital jobs at the agency.
“When up to 1m companies are built on lies, it’s time for Companies House to get tougher,” said Byrne,“It’s no longer just a register – it’s the frontline in the war on economic crime,“We won’t defeat fraud with warnings,We won’t clean up the system with good intentions,We need action.
We need enforcement.And that means using the power to punish those trying to corrupt our economy, dodge sanctions or launder cash.”Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionA Companies House spokesperson said: “Financial penalties are one sanction that is available to Companies House and is an important part of our overall enforcement.“Penalties are being implemented in a phased way to drive increased compliance.Volumes will increase over time to address non-compliance.
We have robust processes to pursue the payment of penalties, including taking court action where necessary,”Byrne wrote to Companies House last month with a litany of concerns, including that businesses on the register were being used for sanctions evasion and money-laundering, with the “alleged assistance of UK residents”,He said a 20% vacancy rate for digital jobs at Companies House raised concerns that its digital transformation was not properly resourced,
FTSE 100 plunges to one-year low amid market turmoil, as Goldman Sachs raises chances of US recession to 45% – business live
Goldman Sachs has slashed its forecast for US economic growth this year, and warned there is a growing risk that America falls into recession in the next year.Goldman has lowered its 2025 growth forecast from 1.0% to 0.5%, due to fears that Donald Trump will raise tariffs by much more than it had expected.In a note titled “US Daily: Countdown to Recession”, Goldman also lifted its 12-month recession probability from 35% to 45%, following “a sharp tightening in financial conditions, foreign consumer boycotts, and a continued spike in policy uncertainty” following Trump’s tariff announcements
County cricket day four: Essex v Surrey, Middlesex v Lancashire – live
Upper cutting to third man. Must have been the call of the delicious leak and potato soup they’ve just served up in the press box. Well played.Jamie Smith apart, it’s been slow going round the grounds. Notts are plugging away but Durham have only lost two wickets this morning – 165-5, trail by 36
Starmer to give speech on tariff turmoil but car industry says actions will have limited impact – UK politics live
Good morning. As prime minister, there is nothing more important than being able to show the nation, when a crisis hits, that you are responding pro-actively, that you have a plan to cope, and that you are not just passive and helpless. Today is unusual because Keir Starmer is responding to a crisis caused by someone who is purportedly an ally, but in other respects the crisis response is familiar; “government will protect you”, the PM will say.Starmer will be giving a speech early this afternoon and here is Pippa Crerar’s overnight preview story about what he is going to say.Starmer will focus in particular on the car industry, which has been hit by 25% tariffs on exports to the US
Labour: changes to EV rules will have ‘negligible’ impact on UK emissions
Labour’s changes to electric vehicle (EV) rules in response to Donald Trump’s tariffs will have a negligible impact on emissions, the transport secretary has said.Keir Starmer has confirmed plans to boost manufacturers, including reinstating the 2030 ban on the sale of new petrol and diesel cars.But regulations around manufacturing targets on electric cars and vans will also be altered, to help companies in the transition, and new hybrids will be on the market for a further five years.Heidi Alexander said the taxes on imports announced by the US president last week, which spurred reciprocal action by some affected countries, “are bad news for the global economy, because it’s bad for global demand, it’s bad for prices and it’s bad for consumers”.Speaking on BBC Breakfast about the impact on carbon emissions of the government’s changes to electric vehicle rules, she said: “The changes we are making have been very carefully calibrated so as not to have a big impact upon the carbon emissions savings that are baked into this policy
Benefits of ADHD medication outweigh health risks, study finds
The benefits of taking drugs for attention deficit hyperactivity disorder outweigh the impact of increases in blood pressure and heart rate, according to a new study.An international team of researchers led by scientists from the University of Southampton found the majority of children taking ADHD medication experienced small increases in blood pressure and pulse rates, but that the drugs had “overall small effects”. They said the study’s findings highlighted the need for “careful monitoring”.Prof Samuele Cortese, the senior lead author of the study, from the University of Southampton, said the risks and benefits of taking any medication had to be assessed together, but for ADHD drugs the risk-benefit ratio was “reassuring”.“We found an overall small increase in blood pressure and pulse for the majority of children taking ADHD medications,” he said
Harry Brook named England men’s white-ball captain for T20s and ODIs
Harry Brook has been named as England’s new white-ball captain, with Rob Key, the director of men’s cricket, praising the Yorkshireman’s “excellent cricketing brain” but also admitting the opportunity has come “slightly earlier than expected”.Brook, 26, will take charge of both the T20 and ODI teams despite Key admitting last month he was considering offering the latter to Ben Stokes. Instead, Stokes will remain focused on leading the Test side and next winter’s Ashes moonshot, as well as his own return to fitness after hamstring surgery at the start of the year.“It’s a real honour to be named England’s white-ball captain,” said Brook, who is currently resting at the start of the summer after pulling out of the Indian Premier League. “Ever since I was a kid playing cricket at Burley in Wharfedale, I dreamed of representing Yorkshire, playing for England, and maybe one day leading the team
Giovanni’s on The Hayes, Cardiff: ‘The smell of wine and hot tomatoes’ – restaurant review
How to turn excess egg yolks into an umami-packed flavouring – recipe | Waste not
Noor Murad’s recipes for Gulf-style rice
‘Too sticky. Too saucy. Too weird’: could I persuade my son to eat the food of my heritage?
Voyage with Adam Simmonds, London NW1: ‘A bit like eating at a weight-loss camp’ – restaurant review | Grace Dent on restaurants
What’s the difference between all the various paprikas? | Kitchen aide