Companies House increase company incorporation fees

Fees that come with incorporating a new business have seen a significant increase, with this being the first increase of its kind since 2016. These changes came into effect on 1 May 2024. 

This follows changes to the registration process in March 2024 which will requires an email address and identification to be provided before incorporation and alongside additional submissions. 

Previously, setting up a limited liability partnership (LLP) or a business cost just £12. Now the price has increased to £50 for an online registration – and for those seeking same-day service, the fee will further increase to £78. 

Annual confirmation statements – which are a yearly requirement for businesses – have also seen a significant rise. Digitally submitting this document will now incur a cost of £34, compared to the previous £13. 

Overseas businesses looking to incorporate in the UK will also incur further price increases for incorporation – with costs rising from £20 to £71. Annual account registration will also rise from £20 to £62 per year. 

Why have the prices changed?

Companies House have raised their fees to cover the additional costs of new powers granted by the Economic Crime and Corporate Transparency Act. These new powers will allow them to combat economic crime, improve the accuracy of the business register, and ultimately create a better business environment. They emphasise that these fee increases are not for profit, but to cover the cost of the new services delivered, such as enhanced investigation and enforcement activities. 

How could the changes affect your business?

• Businesses will need to factor in higher fees for incorporating, filing annual reports, and meeting other regulatory requirements;
• With paper filings becoming more expensive, companies may need to embrace digital channels to stay cost-effective; and
• Increased fees and filing requirements add to the compliance burden, especially for smaller businesses. Managing deadlines, penalties, and future requirements of the Act could require additional time and resources.

If you have any queries regarding these changes or if you need assistance with setting up a new company, please contact a member of our corporate team via the contact form below. We also provide company secretarial services to founders, C-suite individuals and directors of limited companies who require assistance with their ongoing Companies House requirements.