Starting May 1st, 2024, Companies House will be implementing adjustments to the fees for several services including the Confirmation Statement, Incorporation, Change of Name, and Applications to Strike-off.
This revision in fees is a part of the updates to the registration process initiated in early March, which now requires the provision of an email address and ID before incorporation and for additional submissions.
Impact on Fees
From May 1st, 2024, the costs for 62 services offered by Companies House will see a notable increase.
Some key changes include:
- The fee for New Company Incorporations will rise from £12.00 to £50.00.
- Changing the company name will now cost £33.00, up from £8.00.
- Filing charges for striking off a company will increase to £33.00 from £8.00.
- The annual Confirmation Statement will now cost £34.00, up from £13.00.
Reason for the Increase
Companies House explains that the fee adjustments are intended to align with the costs of providing these services, ensuring they cover expenses without generating profit. The changes are also a response to the new powers granted under the Economic Crime and Corporate Transparency Act, allowing the agency to fund investigative and enforcement activities that uphold the integrity of the register and combat economic crime.
Global Perspective
Historically, the UK has been one of the most economical locations for company incorporations and document filings. Prior to the fee increase, the UK ranked 15th globally for affordability.
The new fees place the UK 36th out of 179 countries surveyed, still considerably lower than the fees in nations like the UAE (~£5,900) and Italy (~£3,860), indicating the fees remain competitive internationally.
Adaptations by Launchese
In response to these changes, Launchese will also adjust its pricing structure accordingly to remain in line with the new fee schedule set by Companies House. We encourage our customers to review these updates and reach out to us with any questions or concerns regarding how these changes may affect them. Further information on Companies House fee reviews can be accessed here.
This proactive approach ensures that Launchese continues to provide tailored and compliant services to our clients amidst regulatory changes.
