Price Changes In Companies House Fees in the UK in 2024
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Companies House has reviewed and announced price changes in their fees for various services that will take effect on 1st May. These changes have implications for both small businesses and large entities who rely on Companies House for various purposes such as incorporation and filing documents.
The fees are based on a ‘cost recovery’ basis where the fee must cover the cost of Companies House providing the service without any profit being made.
Why is Companies House increasing their fees?
Every year, Companies House reviews their fees to make sure they’re set at the right level. The changes are part of their effort to improve the quality and reliability of its data and tackle misuse of the company register.
The increase in the Registrar’s fees is also assisting with funding their exercise of its enhanced powers of investigation and enforcement given by the Economic Crime and Corporate Transparency Act 2023.
However, the registration fees do not apply to documents under the Companies Act 1985 or the Companies (Northern Ireland) Order 1986. Documents delivered under these acts will be free.
Even after the increase, their fees remain the lowest.
Which fees are increasing from 1st May?
The fee increase is more significant on paper and online submissions. This change reflects the shift towards digital processes.
The key adjustments are incorporation costs, where the fee for electronically forming a company will increase from £12 to £50, whereas, fees for filing confirmation statements will rise from £13 to £34. The fee for changing a company name will increase from £8 to £20.
Company incorporation and registration fees
Company incorporation is the formation and registration of a limited company with Companies House. A limited company is a legal entity with a separate identity from those who own or run it.
The cost of forming a new company digitally will rise from £12 to £50 while on paper, the fee will rise from £40 to £71.
What is same-day company incorporation?
Same-day company incorporation is a guaranteed service provision to register your limited company on that same day with everything you need. This excludes any days that fall on a UK public holiday or on Saturdays and Sundays when all types of company set-up services have ceased.
The cost of same-day company incorporation will rise from £30 to £78.
Confirmation statements
A confirmation statement is designed to update Companies House about any changes to the corporate structure of your company and its trading activities.
The price to file your annual confirmation statements will digitally increase from £13 to £34 while on paper, the fee will rise from £40 to £62.
It is important to note that you will only pay with your first confirmation statement in the 12-month payment period.
Change of company name
Businesses may want to change their limited company name if they are rebranding or the business has changed its trading activities. Additionally, businesses may want to change their company name if there is another company or business that has a similar name or if the existing name is not very catchy and people are finding it hard to remember.
Company name change fees will digitally rise from £8 to £20 and on paper will rise from £10 to £24.
Same-day service on company name change will rise from £30 to £83.
What is voluntary strike off
Voluntary strike off is a process by which a company can choose to be removed from the Companies House register. This may happen when a company is dormant or no longer trading.
The price will digitally rise from £8 to £33 while on paper £10 to £44.
Reduction of share capital
This is a legal process that allows a company to decrease the value of its shares without the need for a formal restructuring or reorganization.
Same day service fee will rise from £50 to £136.
Registration of a charge
A registration charge is a form of security a lender takes over a company's assets to secure a loan or the performance of an obligation. This can include assets such as property, equipment, or intellectual property.
The fee will remain the same digitally at £15, while on paper, the fee will rise from £23 to £24.
Limited liability partnership (LLP) incorporation and registration fees
The fees exclude the incorporation of a Welsh LLP filing in Welsh.
Incorporation of an LLP on paper will be £40.
For confirmation statements, the fee, which you must include a fee with the first confirmation statement you file each year on paper will be £40 while online will be £13. Further confirmation statements made in the same year do not require a fee.
LLP change of name will now be £10 on paper.
LLP voluntary strike off will be £10 on paper and £8 online.
Registration of a charge by an LLP will now be £23 on paper and £15 online.
On paper, the fee of administrative restoration of an LLP will be £100, application to make an address unavailable for public inspection by an individual member will be £32, and application to make an address unavailable for public inspection by a person who registers a charge will now be £32.
Overseas company incorporation and registration fees
The fees for incorporation and registration of overseas companies has increased on paper.For registration of a UK establishment of an overseas company and same day registration of a UK establishment of an overseas company the fee is £20.
The fee of change of corporate name or alternative name of an overseas company and same day change of corporate name will be £10.
Annual document processing fee payable with the overseas company accounts will be £20.
Register of Overseas Entities (ROE)
Services for registration of an overseas entity will be £100, the renewal fee will now be £120, and for application for removal, the fee will be £400.
EEIG establishments and UK Economic Interest Groupings (UKEIGs) fees
Registration of UK establishment of an EEIG whose official address is outside the UK under regulation 12 will be £20 on paper, change of name of an UKEIG will be £10, and registration of charge will be £23.
Overseas Entities
All filings for the Register of Overseas Entities must be filed digitally. The only exception is those with protected status or a pending protection application. This group will need to pay a separate paper fee.
Registration of an overseas entity will now be £234, update fee will be £234, and application for removal will be £706.
Limited partnership (LP) incorporation fees
All registration fees of a limited partnership have increased on paper. The service will be £20 even for the same day registration.
Scottish qualifying partnerships
The registration of Scottish qualifying partnership and annual fee for the registration of all relevant documents delivered during a relevant period payable on the registration of a confirmation statement on paper will be £71.
Annual fee online will now be £62.
Community interest company (CIC) and other incorporation types
To incorporate a CIC using a paper form, send a cheque or postal order for £35 payable to Companies House. This will cover the Companies House fee and the CIC Regulator’s fee.
The fees are plus a separate CIC Regulator’s fee of £15.
Registration of a CIC in accordance with section 36 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 online will be £12 while on paper the fee will be £20.
These price changes reflect a necessary shift towards modernisation and efficiency in the business registration process. Small businesses and start-ups must adapt to these changes to comply with Companies House regulations. If you would like more information about the upcoming changes to Companies House, feel free to contact us : [email protected]