Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what discussions he has had with Companies House on phoenixing.

The 2023 Economic Crime and Corporate Transparency Act has strengthened the Registrar of Companies’ enforcement and investigative powers, enabling it to act as a more active gatekeeper over company registrations and directors.

As announced in the November Budget Statement, additional funding is now being provided for the Insolvency Service to set up a new Abusive Phoenixism Taskforce, specifically to deal with this type of director misconduct. The Insolvency Service is working closely with Companies House and HM Revenue and Customs to identify and tackle abusive phoenixism.