Companies House has announced a revision in its filing fees, effective from 1 May 2024. This adjustment is part of a broader initiative under the Economic Crime and Corporate Transparency Bill, which aims to enhance the integrity and reliability of the UK’s corporate registry.
The key changes include adjustments across various filing services, with an emphasis on both digital and paper submissions. The fee increase is intended to support the implementation of new technologies and processes that will streamline operations, improve the accuracy of company data, and bolster measures against economic crime.
Moreover, the changes are a part of a comprehensive overhaul that includes several other significant updates. These include the introduction of identity verification for individuals setting up, running, owning, or controlling companies in the UK, the transition towards filing accounts solely via software to reduce errors, and measures to protect personal information on the register.
Who will be affected?
The revised fees impact various services, including:
- Incorporation: The fee for setting up a limited company using the Companies House website will increase from £12 to £50.
- Change of name: Businesses seeking to change their company name will also be subject to the new fees.
- Confirmation statements: Companies submitting annual confirmation statements will experience adjusted costs.
- Re-registration: Fees related to re-registering a company will be affected.
You can find a list of all new filing fees on the Companies House website here.
What will this mean for businesses?
Businesses must prepare for the financial implications of the updated fee structure and adapt to the new filing requirements. It’s essential to be aware of these changes and plan accordingly to manage these new costs and maintain compliance.
If you have any questions or concerns about the new filing fees, get in touch with Katie Holden, Company Secretarial Senior Manager, to see how we can support you and your business with the upcoming changes.
