Increased Companies House Prices: What You Need to Know

Effective from 1st May 2024, Companies House is implementing significant fee increases across a variety of services, influenced by the Economic Crime and Corporate Transparency Act. These changes aim to cover the costs of delivering services and to fund future expenditures as well as ongoing reforms.

Key Fee Increases

1. Company Incorporation:
   • Digital Incorporation: £50 (up from £12).
   • Paper Incorporation: £71 (up from £40).
   • Same Day Service: £100 for digital incorporation.
2. Annual Confirmation Statements:
   • Digital Filing: £34 (up from £13).
   • Paper Filing: £62 (up from £40).
3. Changes to Company Details:
   • Change of Company Name: £20 for digital submissions (up from £10), £30 for paper submissions.
4. Registration of Charges:
   • Digital Filing: £15.
   • Paper Filing: £24.
5. Voluntary Strike Off:
   • Digital Filing: £33.
   • Paper Filing: £44.

These fee adjustments reflect the increased administrative costs and the expanded scope of services offered by Companies House, particularly in light of the new regulatory requirements aimed at enhancing corporate transparency and combating economic crime.

Impact on Businesses

The fee increases will impact businesses of all sizes, from small enterprises to large corporations. For small businesses, especially, these changes could mean higher operational costs. It is crucial for business owners and directors to be aware of these changes and to budget accordingly to avoid any surprises.

Preparing for the Changes

To adapt to the new fee structure, businesses should:

• Review Budget Allocations: Ensure that your financial planning accounts for the higher fees.
• Utilize Digital Services: Digital filings are generally less expensive than paper filings. Where possible, transition to digital submissions to save costs.
• Stay Informed: Regularly check Companies House updates and ensure compliance with the latest regulations.

The updated fees are part of a broader initiative to improve the accuracy of data on the register and to enhance the integrity of company information held by Companies House. These reforms are expected to bolster the UK’s business environment by making it more transparent and by providing better protection against fraud and economic crimes.

For more detailed information, you can visit the official Changes to Companies House fees page and the Companies House announcement.

By staying informed and prepared, businesses can navigate these changes effectively and continue to comply with UK company law.