A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to pay its business creditors over a fixed period of time.
The arrangement is similar to the Individual Voluntary Arrangement (IVA) that can be used by a sole-trader or self-employed person who is unable to pay their debts.
An application for a CVA can only be made with the agreement of all directors of the company in question or all of the partners of a limited liability partnership (LLP). A CVA can only be created by using the services of an insolvency practitioner. They will be responsible for set up and administration of the arrangement.
Once an insolvency practitioner has been appointed the following steps will take place:
If the agreement is approved and the company does not meet the terms of the CVA then any of the creditors can apply to have the business wound up.
Last week, we covered the new requirement for directors and persons with significant control (PSCs) to verify their identities from 18 November 2025. This process will be rolled out over 12 months, with Companies House reaching out directly to companies, providing guidance on what actions need to be taken and the deadlines for each step.
According to Companies House, ID verification is a significant step forward for UK businesses and offers numerous benefits. Ensuring that company directors and PSCs verify their identities, will help make sure that the people setting up, running and controlling companies are who they say they are.
This is intended to:
This also enhances the credibility of data held by Companies House, which is important for businesses looking to build trust with investors, consumers and potential business partners. A verified presence on the register can help a business demonstrate they are legitimate and professional, helping them stand out in the competitive business landscape.
The introduction of ID verification will also make it harder for fraudsters or criminals to create anonymous corporate structures for illicit activities. This added layer of security strengthens the business environment by reducing the risks associated with fraud and economic crime.
For businesses, being listed on Companies House with verified details can boost credibility, aiding in securing contracts, attracting investors and accessing finance. It can also enhance opportunities for due diligence, helping companies evaluate potential suppliers and customers more confidently.
From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over 12 months and Companies House is contacting companies directly with guidance regarding what needs to be done and by when.
These changes are intended to help ensure that people setting up, running and controlling companies are who they say they are. An estimated 6 to 7 million people will need to verify their identity by November 2026. The verification process will usually be a one-time requirement. Verification can be undertaken directly with Companies House through GOV.UK One Login or via an Authorised Corporate Service Provider (ACSP).
If you are using GOV.UK One Login you will be asked simple questions to find the best way for you to verify your identity. You must provide answers about yourself, not your company. Depending on your answers, you will then be guided to verify:
To verify your identity at Companies House, you can use the GOV.UK online verification service if you have one of several accepted photo identification documents. These include a biometric passport from any country, a full or provisional UK photo driving licence, a UK biometric residence permit or card or a UK Frontier Worker permit.
If you do not have any of the accepted forms of photo ID but live in the UK, there are alternative ways to verify your identity. This includes verifying your identity in-person at a Post Office or using details from your bank or building society account together with your National Insurance number.
If you are unable to verify your identity using any of the available online or in-person methods, you can appoint an ACSP, such as an accountant or solicitor to verify your identity on your behalf. The ACSP must be registered with Companies House and a UK Anti-Money Laundering (AML) supervisory body. You will need to provide approved documents as evidence of your identity and the agent may charge a fee for their services.
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