Companies House Fees to Increase: What You Need to Know

Companies House is raising its fees starting May 1st, 2024. This change comes alongside the introduction of new services designed to improve data quality, combat fraud, and enhance transparency.

Why the Increase?

Companies House operates on a cost-recovery basis, meaning fees need to cover their operating expenses. The new services include:

• Identity verification: This ensures the accuracy of information about company directors and those filing on behalf of companies.

• Enhanced gatekeeping: Companies House will have more authority to prevent fraudulent company creation and maintain reliable data.

• Improved financial information: The register will reflect the latest digital advancements and provide more accurate financial details.

• Stronger enforcement: Companies House gains greater power to investigate and share information with relevant partners.

• Increased personal information protection: Measures aim to safeguard individuals from fraud and misuse of personal data.

These new services require additional resources, hence the fee increase.

What are the New Fees?

Here's a breakdown of some key fee changes:

Full details of the fee increases can be found here: https://changestoukcompanylaw.campaign.gov.uk/changes-to-companies-house-fees/

What to Do?

If you're incorporating a new company or need to file with Companies House, be aware of the increased fees. Consider filing any necessary documents before May 1st to benefit from the current pricing.

For ongoing company maintenance, factor these fee hikes into your budget.