The Economic Crime and Corporate Transparency Act 2023 and Limited Partnerships

Economic Crime and Corporate Transparency Act (ECCTA) and limited partnerships: What You Need to Know

The Economic Crime and Corporate Transparency Act ("ECCTA") received Royal Assent in October 2023. Its reforms are being introduced in phases, with further key details to be outlined in secondary legislation expected in the coming months.

Burness Paull’s market-leading funds team has been closely involved in shaping this legislation throughout the parliamentary process. We’re ready to support clients through the upcoming changes and will continue to provide updates as more information becomes available.

What is the aim of ECCTA?

ECCTA is designed to combat economic crime and improve corporate transparency across the UK. It significantly enhances the role of Companies House, transforming it from a passive register into an active gatekeeper of accurate, verified company information.

Among other changes, filing obligations for limited partnerships—including Scottish limited partnerships (SLPs)—are being reformed. This note focuses on the impact on SLPs, though the changes also apply to limited partnerships registered in England and Wales.

Key Changes for Scottish Limited Partnerships

1. UK Connection Requirement
SLPs will be required to maintain both:
•    a registered principal place of business (which may be outside the UK); and
•    a registered office in Scotland.

Burness Paull already offers accommodation services for SLPs with a principal place of business in Scotland, and we are ready to provide registered office services to help clients meet this new obligation—whether or not we host their principal place of business.

2. Expanded Filing Requirements
Additional information will be required about partners. In most cases, clients will already hold this information. We’re prepared to support collection, processing, and filing once the final requirements and timelines are confirmed.

3. Authorised Corporate Service Providers (ACSPs)
When the relevant provisions come into force, we anticipate that only ACSPs—firms authorised by the UK Registrar of Companies—will be permitted to file documents on behalf of limited partnerships.

Burness Paull is an ACSP and ready to act when these provisions commence.

4. Identity Verification
While the mandatory ID verification requirements coming into force on 18 November 2025 do not apply to limited partnerships, ECCTA does contemplate ID verification for limited partnerships and some partners in certain circumstances. 

We are still awaiting key details in relation to the requirements, but we will be on hand to support clients in meeting these obligations when finalised.

For more guidance on the new ID verification requirements that come into force in 18 November 2025, including who they do apply to and how to undertake ID verification, please see our note here.

5. Registered Email Address Requirement
Limited partnerships will be required to maintain a registered email address for communication with Companies House. Burness Paull can provide this service as part of our registered office offering.

6. Annual Confirmation Statement
SLPs will be required to file an annual confirmation statement confirming the accuracy of their filings. This is a new statutory obligation but will be similar to the existing PSC statement requirements for Scottish limited partnerships, which have been in place since 2018.

We currently assist clients with PSC confirmation filings and will extend this service to include the new statements when the requirement takes effect.

When Will the Changes Come into Force?

Not immediately. Much of the detail—including process and systems updates from Companies House—will be set out in secondary legislation expected in the coming months. It is envisaged that the limited partnership reform provisions of ECCTA will come into force towards the end of 2026.

Once in force, a six-month transition period will apply for compliance.

Burness Paull will continue to monitor developments closely and will provide timely guidance and support to help ensure a smooth transition.

If you have any questions or would like to discuss how ECCTA may affect you, please don’t hesitate to get in touch.

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