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Companies House fees have changed – 2024

Companies House fees have changed – 2024

Prepare to be stunned: as of 1st May 2024, Companies House has dramatically revised its fee structure, causing significant concern in the business community. For instance, the fee to form a limited company has skyrocketed from £10 to £50, a 400% increase overnight.

Key Takeaways:

• Companies House fees changed on 1st May 2024.
• Fees have surged by over 300%.
• New fees will impact both new and existing companies.

Let’s jump in!

The recent update to Companies House fees will significantly affect both new and existing companies in the UK. For new businesses, the increased registration costs may deter some entrepreneurs from starting their ventures. Existing companies will also feel the impact, as higher fees for annual filings, document submissions, and other services will lead to increased operational costs.

New fees:

Company incorporation (Digital): from £10 to £50
Confirmation statement (Digital): from £13 to £34
Confirmation statement (Paper): from £40 to £62
Change of company name: from £8 to £20
Strike off company: From £8 to £33

For a full list of price changes for all other services, visit Companies House Fee Changes.

Why the prices have increased?

Companies House has announced that the changes are being implemented to "align with the costs of providing services." The fees are "set on a cost recovery basis" and "must cover the cost of the services we deliver. We do not make a profit on our fees." The additional fees incurred by Companies House result from the new powers introduced through the Economic Crime and Corporate Transparency Act. These fees will "enable the cost of investigative and enforcement activities that promote the integrity of the register, maintain a healthy business environment, and combat economic crime, to be met through fees.

Question and answers

Will this change affect using a virtual office for Companies House?
No, you can continue using a virtual office as your registered office address and service address without any issues.

Should I form a company with the prices so high?
Although the price has increased, £50 is still relatively low compared to other countries.

Will the price increase more in the future?
It is unlikely that Companies House will increase fees in the next few years. However, only Companies House can provide a definitive answer to this question.

How can I stay informed about future changes to Companies House fees?
To stay informed about future changes, regularly check the Companies House website and sign up for their newsletters or alerts. Including these additional questions can help provide a more comprehensive overview and address potential concerns your readers might have.

How will the fee changes impact existing companies?
Existing companies will face higher costs for annual filings, document submissions, and other services, leading to increased operational expenses.

Need help?
If you're unsure how these changes will impact your business or need help with incorporating a new company or filing documents, consulting an accountant can be beneficial. Don't hesitate to reach out to our team for assistance.