Changes to Companies House Fees, effective from 1 May 2024

For limited company directors and those navigating the complex world of corporate governance, staying informed about financial aspects is crucial. On 1 May 2024, Companies House will introduce significant changes to their fees, affecting how businesses manage their legal and administrative costs. Here are the essential fee changes you need to be aware of to strategize and budget effectively for the next fiscal year.

Incorporation Fees: Varying Channels, One Goal

Starting a new business involves more than just a good idea—it requires formal registration. With new fees in place, the cost of incorporation will fluctuate based on the channel you choose.

• Digital Incorporation (£50): Offering a streamlined process at a competitive price, the digital route promises efficiency for tech-savvy entrepreneurs.
• Same-Day Software Processing (£78): For those who need immediate legal recognition, the convenience comes with a significantly higher price.
• Paper Trail (£71): The most expensive and manual process indicates a commitment to historical practices at a premium cost.

Special Registration and Re-Registration Fees

Certain changes in company structure or law can trigger these fees. Notably, a paper-based process remains the more costly alternative across all registration types.

• Re-registration under CA06 (£71): For companies transitioning to a different legal status under specific clauses, the cost is consistent but not insubstantial.

Confirmation Statement Updating Methods

The confirmation statement, which captures a snapshot of the company's information, will cost you differently based on your preferred submission method.

• Digital Submission (£34): A straightforward and cost-effective method for maintaining company details.
• Paper Submission (£62): A more traditional approach that offers filling satisfaction at almost twice the digital fee.

Nomenclature Modification Costs

Changing your company's name requires an official process, one that is now subject to these revised rates.

• Same-Day Digital Service (£83): A premium that allows for immediate name changes, ideal for those with urgent branding demands.
• Standard Digital Service (£20): The entry-level price for a digital name change reflects the cost of manual administrative duties.
• Paper Procedure (£30): In a world of digital transformation, companies opting for paper trail get charged for historical novelty.

Charge Registrations: Protecting Interests within the Law

For anyone needing to register a company charge, the nature of the security and the process will affect the fees.

• Paper Application (£24): A modest charge for processing the charge on paper with traditional financial institutions or agreements.
• Digital Application (£15): A testimony to the ease and lower cost of digital transactions, capturing the modern-day business transactions' essence.

Share Capital Reduction for Companies in Transition

Adjusting share capital can have complex outcomes, and these cost implications echo the significance of the decisions made within the boardroom.

• Reduction of Share Capital Under CA06 (£33): An across-the-board standard fee for maneuvering shares, irrespective of the digital or paper methods.
• Same-Day Reduction (£136): For emergencies or strategic realignments, companies can expect to pay a premium for express service.

Voluntary Strike Off: An Exit at a Price

When a business purposefully decides to strike off the Companies House register, there is a prescribed process that comes with a fee.

• Paper Application (£44): Offers the peace of mind at an average cost, suitable for companies not in a rush to close their accounts.
• Digital Application (£33): A cost-effective exit strategy, suggesting that efficient closure is equally valued as the process.

Administrative Restoration: Reviving Companies with a Premium

Companies that have been struck off but wish to resume business activities face a steep fee.

• Paper Restoration (£468): A considerable sum for bringing a forgotten business back to the legal fold.

Confidential Address Management: Privacy at a Price

With online visibility at a peak, some company addresses may be registered confidentially, a feature that now comes at a cost.

• Making an Address Confidential (£30): Protecting privacy for a fee encourages companies to weigh the benefits against the nominal expense.

In scrutinizing these changes, limited company directors will recognize that Companies House fees are more than just financial obligations—they can be a compass for navigating the evolving landscape of corporate governance. Whether it's the balance between digital and traditional channels or the preference for cost-effective administration, these fee structures offer insights into the nuanced values within the corporate sphere. On a practical level, understanding and adapting to these changes will not only ensure compliance but also underscore strategic financial planning in the year ahead.