Increase for Company Incorporation and Registration Fee
Companies House Fee Increase for Company Registration
In line with the rising cost of everything, Companies House has dramatically increased the fees for incorporating a new company. Effective from 1 May 2024, the fee for online incorporation has risen from £12 to £50, with traditional paper applications now costing up to £78.
Key Points:
- Previous Fees: Until 1 May 2024, incorporating a company online was just £12, one of the lowest fees globally since being set in 2016.
- New Fees: The incorporation fees have now increased to £50 for online applications and up to £78 for paper and software applications.
- Global Context: Despite this significant increase, the UK’s incorporation fees remain some of the lowest in the world.
- Potential Future Increases: The new fees are lower than the initially proposed range of £65 to £85, suggesting that further increases could be on the horizon as Companies House aims to meet its targets announced in February 2024.
Impact on Businesses:
Business running costs are rising across the board, not just with incorporation fees. Charges for confirmation statements, winding-up fees, and strike-off applications have also increased, reflecting higher costs in all categories of government charges.
Current Waiting Times:
The wait times for new company applications remain lengthy. With the impending new ECCT law and regulations expected to impact newly established and future companies, early incorporation might be advantageous.
Stay informed and plan accordingly to navigate these changes effectively.
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