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Companies House Changes in 2024

Companies House Changes in 2024 direct peak accountants

Increase in Fees

Companies House has outlined plans to increase its fees from 1 May 2024, with the agency noting that the changes are being made to “bring them in line with the costs of providing our service”.

In a blog post about its fees, Companies House said: Companies House fees are set on a cost recovery basis. This means our fees must cover the cost of the services we deliver. We do not make a profit on our fees. We review our fees every year to make sure they’re set at the right level. This year, we’ve taken new future expenditure into account as well as making sure we recover costs from our existing expenditure. Companies House fees are much lower than the global average and have not changed since 2016. Many believe our fees are too low. During the debates while the ECCT Bill has moved through Parliament, there’s been a focus on the low levels of our fees and on making sure we’re adequately funded in the future.

A Companies House spokesperson added: We’re amending our fees to bring them in line with the costs of providing our services but also to recover the costs of our new powers being introduced through the Economic Crime and Corporate Transparency Act. This will enable the cost of investigative and enforcement activities that promote the integrity of the register, maintain a healthy business environment and combat economic crime, to be met through fees.

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Fees for commonly used services

I have highlighted the increases to the fees of the most commonly used services below, and a full breakdown of all fee increases can be found on the following link.

Current Fee Fee from 1st May 2024
Incorporation of a Company (Digital) £12 £50
Incorporation of a Company (Same Day) £30 £78
Confirmation Statement (Digital) £13 £34
Confirmation Statement (Paper) £40 £62
Voluntary Strike Off       (Online) £8 £33
Voluntary Strike Off        (Paper) £10 £44
Change of Name (Digital) £8 £20
Change of Name (Same Day) £30 £83

All companies registered at Companies House impacted

These fee increases will affect all companies registered at Companies House. Fees for LLPs, Overseas Entities, Limited Partnerships, and Overseas Companies, amongst others, will also be subject to an increase.

Companies House have also introduced the Economic Crime and Corporate Transparency Act is to improve the accuracy and quality of the data on our registers, to help tackle economic crime and drive confidence in the UK economy.

The act will introduce new statutory objectives for the Registrar of Companies which they must promote when performing their functions. The act will also provide the registrar with a suite of new and enhanced powers, to enable them to meet their objectives.

What’s changing & what this may mean for you?

Registered office addresses

From 4 March 2024, there’ll be new rules for registered office addresses which mean companies must, at all times, have an ‘appropriate address’ as their registered office. An appropriate address is one where:

  • any documents sent to the registered office should be expected to come to the attention of a person acting on behalf of the company
  • any documents sent to that address can be recorded by an acknowledgement of delivery

These changes mean you will not be able to use a PO Box as your registered office address in the future.

Statement of lawful purpose

  • There’ll be a new requirement when you register or ‘incorporate’ a company from 4 March 2024. The subscribers to the company will need to confirm they’re forming the company for a lawful purpose.
  • A company will also need to confirm its intended future activities are lawful, on their annual confirmation statement.

Registrar’s powers

  • From 4 March 2024, the registrar will have greater powers to query and challenge information that appears to be incorrect or inconsistent with information we hold.
  • In some cases, we’ll also be able to remove information more quickly, if that information is inaccurate, incomplete, false or fraudulent.

There’ll be stronger checks on company names which may give a false or misleading impression to the public. This will help us improve the accuracy and quality of the data we hold and help to tackle the misuse of company names.

Confirmation statement registered email address

  • Under the act, all companies will need to provide a registered email address.
  • Companies House will use this email address to communicate with the company – it will not be available to the public.
  • New companies will need to give a registered email address when they incorporate, from 4 March 2024.
  • Existing companies will need to give a registered email address when they file their next confirmation statement, with a statement date from 5 March 2024 onwards.

Get in touch with Direct Peak today 01733 973308 to discuss more on how the change in Companies House fees & changes may impact you and your business.

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