The new disclosure rules take effect next spring. Most private companies will not need to file anything new. They will need to be able to answer more questions, faster.

What changes

Lenders and buyers may now ask for beneficial ownership records at the start of a deal. Companies that keep those records current will save days.

What does not change

There is no new public register for private companies, and no new filing deadline.

What to do now

Check that your share register and your register of individuals with significant control match. If they do not, fix that first.