Company incorporation fees increase from May 2024

The government agency that maintains the register of all incorporated and registered companies in the UK, Companies House, will soon be increasing their fees.

Companies House charges statutory filing fees for the registration and incorporation in the UK of companies, limited liability partnerships (LLPs), limited partnerships (LPs), community interest companies (CICs), and overseas companies.

From 1st May 2024, incorporation and maintenance fees will rise as part of the agency’s cost recovery efforts – the fees cover the cost of their services without profit.

Here’s how the cost of incorporating a company will be affected from May 2024.

New company incorporation costs

Depending on which channel you use, the cost of registering with Companies House currently ranges from £10–£40, but these fees will increase across the board.

• Online registration for a company or LLP usually takes 24 hours with a fee of £12, but the online registration fee is increasing significantly to £50.
• Same-day incorporation fees will more than double from £30 to £78.
• Voluntary striking off or ‘dissolving’ a company when it is no longer needed normally incurs a fee of £8, but this will more than quadruple to £33.
• Overseas entities who must register with Companies House will see the biggest increase, rising from £100 to £234 for registration and £400 to £706 for removal.

While many business owners choose to set up their new company through a formation agent, the agent’s basic service only adds a small amount to Companies House fees, which means agent fees are also likely to increase from 1st May.

New confirmation statement costs

Every registered company, even dormant ones, must file an annual return with Companies House. This is known as a confirmation statement, confirming all the registered information about the company is correct and up to date.

The fee for filing a confirmation statement is £13 for online and digital software submissions, but will be drastically rising to £34. The cost of paper confirmation statements will also be increasing from £40 to £60 in May.

Companies must file and pay this fee once every 12 months, usually with the first filing, so there should be no further cost for this during the 12-month period.

A full list of Companies House fees and updates on changing costs are available on the government website. These price rises follow changes in several Companies House filing rules that were introduced from early March, which both existing and new companies should also take note of when dealing with Companies House.

With the possibility of prosecution and financial penalties for companies that fail to register, file, or pay correctly, it may be worth getting professional financial guidance from a company like gbac, with experienced accountants in Barnsley.

Call 01226 298 298 to speak to our team Monday to Friday, or email info@gbac.co.uk and we will respond to your company finance enquiry as soon as possible.