Changes in the Companies House fee structure

Changes in the Companies House fee structure have recently been announced, which will take effect from 1 May 2024, affecting both new and existing UK companies.

Among the notable changes, the cost to electronically form a company will rise from £12 to £50, while confirmation statement fees will increase from £13 to £34.

Other transactions, such as company name changes and administrative restorations, will also see significant fee hikes, with the latter now set at £468. The adjustment includes a wide range of fees, impacting various company-related processes.

These increases are even greater for paper submissions, therefore it may be a good time to make sure that all of your submissions are made online where possible. To see how else this impacts you, a full list of updated fees can be found here.

Before these increases take effect, companies might want to think about how they can take advantage of the current fees. For example, cost savings could be made by companies that have confirmation statements due in the near future by filing these early, depending on their payment period. Similarly, bringing forward the formation of a new company could result in cost savings on the filing fee for incorporation.

While the fee increases may be met with slight resentment given the current timing and percentage increase in the uplift, this is the first time that fees have been increased since 2016. Companies House attributes the fee rise to covering increased costs, notably associated with implementing the Economic Crime and Corporate Transparency Act.

If you have any questions about this topic and how it affects you, please get in touch with your usual contact. You can find contact details on the Our People section of the Larking Gowen website. Alternatively, you can call us on 0330 024 0888 or email enquiry@larking-gowen.co.uk.

George Ager