Companies House Fees Changes
As of 2024, Companies House is introducing several changes to its fee structure, affecting businesses across the UK. These changes impact the cost of incorporating a company, filing confirmation statements, and other essential services. Whether you’re a new business or an established company, it’s vital to understand how these price adjustments will affect your business.
House Fees Increases
The table below outlines the major changes in Companies House fees starting in May 2024:
| Service | Previous Fee (2023) | New Fee (2024) | Percentage Increase |
|---|---|---|---|
| Company Incorporation (Online) | £13 | £15 | 15% |
| Confirmation Statement Filing | £13 | £14 | 7.69% |
| Certificate of Good Standing | £40 | £45 | 12.5% |
| Filing Fee for Limited Liability Partnerships (LLPs) | £13 | £15 | 15% |
| Overseas Company Registration | £20 | £25 | 25% |
| Overseas Entity Registration | £20 | £25 | 25% |
Companies House charges various fees for services like company registration, filing annual confirmation statements, and obtaining certificates of good standing. As of May 2024, these charges are expected to increase to reflect the rising costs of operations and the digitization of services.
How Much is it to Set Up a Company on Companies House?
Setting up a company at Companies House involves an incorporation fee. As of the fee changes in May 2024, the Companies House price for incorporating a company online will increase from £13 to £15. The companies house £13 fee was a long-standing cost for incorporation, but this will rise slightly in 2024 to keep up with digital infrastructure improvements.
Why Are Companies House Fees Changing?
The increase in Companies House fees is part of a broader effort to modernize the platform and introduce new features. This includes improving online services, enhancing the efficiency of company searches, and ensuring compliance with stricter regulatory frameworks. The companies house price increase will support these enhancements, including the addition of new tools for Companies House search and ensuring faster processing times.
New Companies House Fees
The new Companies House fees from May 2024 include price changes across several services. These include a small confirmation statement cost increase and a rise in the price of obtaining a certificate of good standing. The updated fees are expected to streamline the process and improve user service.
Companies House Register Fees
In addition to incorporation costs, businesses must pay fees for maintaining their records with Companies House. The companies house 13 fee for filing a confirmation statement will rise to £14. Other administrative services, such as changing company details, will also see slight increases.
| Service | Previous Fee (2023) | New Fee (2024) |
|---|---|---|
| Confirmation Statement | £13 | £14 |
| Changing Company Name | £10 | £12 |
| Filing for Company Closure (DS01) | £8 | £10 |
Company Incorporation and Registration Fees
The cost to incorporate or register a company in the UK has been historically low, with the companies house £13 fee being the standard for online incorporation. With the upcoming companies new fees, businesses will pay £15 for online incorporation. Overseas companies and LLPs will also face a fee increase for registration. The Companies House fees 2024 are designed to cover the increased administrative and technological costs faced by the organization.
Companies House £13 Fee VAT
The Companies House £13 fee VAT applies when registering or incorporating a company. While the base fee for online incorporation is £13, businesses that are VAT-registered must account for VAT on top of this fee. With the Companies House fee changes coming in May 2024, the incorporation fee will rise to £15. For VAT-registered companies, this will mean a slightly higher overall cost, as VAT will be applied to the updated fee. The VAT aspect remains essential for businesses to keep track of in their tax filings.
The Companies House fee changes scheduled for May 2024 reflect the organization’s ongoing efforts to modernize its services. These adjustments include increases in fees for company incorporation, confirmation statement filings, and obtaining certificates of good standing. The incremental companies house filing fee increase is designed to support improvements in the Companies House online portal, enhancing both the user experience and compliance processes.
Confirmation Statement Price Increase
As part of the 2024 fee update, the confirmation statement price increase is a notable change. Previously, businesses paid £13 to file their confirmation statement annually. Starting in May 2024, this fee will rise to £14, a small but significant increase aimed at maintaining high standards in the verification and filing processes. Filing a confirmation statement on time is essential for ensuring that company records remain up-to-date with Companies House.
The companies house filing fee increase will impact several essential filings, including incorporation, confirmation statements, and document amendments. While the changes are relatively small, they reflect the growing costs of maintaining and improving the services offered by Companies House. The rise in fees will ensure that Companies House can continue to offer reliable services and meet the increasing demands of business compliance in the UK.
Certificate of Good Standing – Companies House
A certificate of good standing is often requested by companies looking to prove their compliance and financial health. This document certifies that a company is meeting its legal obligations. As of the 2024 fee changes, the cost of obtaining this certificate from Companies House will increase from £40 to £45. The certificate remains a vital document for companies engaging in new contracts or dealing with regulatory bodies.
Limited Liability Partnerships (LLPs)
For LLPs, the Companies House fee increase is modest. LLPs will now pay £15, compared to the previous £13. This price adjustment helps maintain the efficiency and accuracy of records for LLPs across the UK.
Overseas Companies and Entities
The registration of overseas companies and overseas entities has become more expensive, with a 25% price increase taking the registration fee to £25 from the previous £20. This rise reflects the complexity involved in handling these entities’ filings and ensures that Companies House can continue to offer robust support for foreign businesses operating in the UK.
Pay Companies House Fees Online
With all these changes, one thing remains convenient: you can continue to pay Companies House fees online. The online portal remains the most efficient way to settle fees, and Companies House has ensured that the payment process remains straightforward. The companies house 13 fee vat applies for VAT-registered entities, making it easy to account for taxes on services used.
Conclusion
The changes to Companies House Price in 2024 reflect necessary updates to the platform’s functionality and infrastructure. The companies house fees 2024 provide continued support for businesses, ensuring compliance and efficient service delivery. Understanding these fees, whether for filing a confirmation statement or incorporating a new company, is crucial for businesses operating in the UK. Be sure to account for these changes as part of your financial planning for the coming year.
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About the Author: Ahmad Raza
