Companies House have stated that they will be increasing their fees for the first time in many years.

Why are companies house increasing their fees?

Companies House have undertaken a yearly review and on the back of this are increasing most of their fees.

This means that filing of documents such as a confirmation statement will have an increased cost for all companies. This is planned to take effect from 1st May 2024.

Some of these costs have more than doubled, and are significantly more than inflation –  yet Companies House have stated that they work off a ‘cost recovery basis.’

A Cost recovery basis means a system where the fees charged for a service aim to cover the costs caused by providing that service, without seeking to make a profit. The fees are increasing therefore as a result of higher costs associated with processing the data that they are sent.

 

What fees are changing?

Almost all fees charged by Companies House are being increased, and include:

• The fees relating to dissolving your company (voluntary strike off). The current price of a voluntary strike off is £8/£10 and it is being increased by £25 to £33.
• The fees incurred for creating (incorporation of) a company. The cost for incorporating online (through a debit/ credit card) is currently £12, and will be increasing by £38 resulting in a total of £50.
• The most notable change which will affect every company, is the increase of the cost of digitally (online through the Companies House website) filing a confirmation statement. The current cost of filing this is £13, and as of May this will be increased by £21 to £34.

The fees stated above are only 3 of the fees that will be increasing because of the new bill that Companies House have introduced, effective on the 1^st of May.

 

Note that if Moore Accountancy file your confirmation statement then any additional charges arising due to the increase of this amendment will be billed at the time of filing.

 

For further information regarding all the changes in fees please visit the Government website which details all the increases.

https://changestoukcompanylaw.campaign.gov.uk/changes-to-companies-house-fees/