Companies House Fee Increase
From 1 May 2024 it has been confirmed that Companies House are increasing their fees.
Companies House fees are often paid on behalf of our clients and then recharged to them. This means that the costs we charge to our clients only covers the cost of the service we are delivering, we do not make any profit on these fees.
Companies House fees will be increasing for the first time since 2016 as they are currently below the global average. It was highlighted that the current fees were too low and to ensure Companies House are adequately funded in the future, an increase needs to be made.
The most common fee payable is the fee paid when making the annual confirmation statement to Companies House. Previously, if filed digitally, a fee of £13 per company would be payable. For confirmation statements filed after 1 May 2024 this fee increases to £34 when filed electronically. If filed by paper this fee increases to £62 per annum. Our company secretarial department files all of its confirmation statements on behalf of clients electronically but this will still represent a substantial increase from previous levels.
Changes are being made to the Companies House incorporation and registration fees, following the enactment of the Economic Crime and Corporate Transparency (ECCT) bill. This will also have a knock effect to the Community Interest Company (CIC) incorporation fees.
From 1 May 2024 the following fees will now apply to those who register as a Community Interest Company:
- Incorporation online – £65 (currently £27)
- Incorporation by paper – £86 (currently £35)
- Limited company to a CIC (conversion) – £45 (currently £25)
The Bill is there to provide Companies House with larger powers on the accuracy of information on their registers, it will also play a large role in tackling economic crimes.
It’s important to bare in mind that Greaves West and Ayre are not increasing their fees, and these increases are coming directly from Companies House. We will only be passing on the fees supplied by them.
You can find further information on the fee changes here: Changes to Companies House fees – Changes to UK company law
Should you like to use Greaves West & Ayre’s company secretarial services then please contact your engagement partner to discuss.
