Changes to Companies House fees
Posted on 12th March 2024
Filing fees for Companies House increase significantly from 1 May 2024 as part of the agency’s annual review.
The new fees are intended to cover the costs of administration. They affect incorporation, change of name, confirmation statements, company re-registration and other services.
Here’s a summary of the new Companies House fees:
Overseas entities
The Register of Overseas Entities requires digital filing. Those who have protected status or a pending protection application must pay a separate paper fee.
|
|
Current fee |
New fee |
|
Registration of an overseas entity |
£100 |
£234 |
|
Update fee |
£120 |
£234 |
|
Application for removal |
£400 |
£706 |
Why are changes needed at Companies House?
Companies House says it’s amending its fees to bring them in line with the costs of providing services. It must also fund implementation of new powers introduced in the Economic Crime and Corporate Transparency Act. This came into effect in October last year.
The new Act gives Companies House powers to tackle economic crime and support economic growth. The measures are intended to improve transparency and the accuracy of registered information. It’s argued that inaccurate and dishonest information in Companies House records poses a serious threat to the UK economy. Overall, it could undermine our financial systems and interfere with fair competition.
New powers for Companies House
The updated fees will support investigation and enforcement activities to maintain accurate business information and fight economic crime. New measures in the Act include:
greater powers to query information and request supporting evidence
stronger checks on company names
new rules for registered office addresses
a requirement to supply a registered email address
a requirement to confirm companies are formed for a lawful purpose at incorporation
a requirements for agreement that intended future activities will remain lawful on confirmation statements
the ability to annotate confusing or misleading information on the register
taking steps to clean up the register, using data matching to identify and remove inaccurate information
sharing data with other government departments and law enforcement agencies.
Impact of the new Companies House fees
The increases will have an impact on businesses and accountants filing information with Companies House. Since the fees haven’t changed since 2016, the increases are significant. However, more accurate records will help businesses check the credibility of suppliers and other companies they work with. Further plans for digitisation should also improve speed and accuracy.
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