As part of a shake-up of Companies House – which includes more rigorous checks of companies and their officers – the registrar is increasing filing fees from May 2024.
Historically, the cost of incorporation and filing documents has been very low.
As a Trading Fund, the registrar sets its fees on a cost recovery basis and doesn’t make a profit. However, it has a statutory duty to break even over time
As a result of the Economic Crime and Corporate Transparency (ECCT) Bill, Companies House will have an increased role in tackling economic crime.
The increased operational requirements mean the registrar will need to recoup its increased manpower and technology costs via a hike in its filing fees.
The cost of forming a new company digitally will rise from £12 to £50, and confirmation statement filing will cost £34 (instead of £13).
Costs remain very low historically
After decades of very low filing costs, the new prices remain very low – especially in a historical context.
Back in 1844 when the Joint Stock Companies Act became law, the first stage of incorporation cost £5 – over £600 today!
In the 1970s, it cost £50 to form a new company – the equivalent of over £300 today. And in 2006, the software filing fee was £15.
New Companies House fees from May 2024
| Type | Old Fee | New Fee |
|---|---|---|
| Incororation (Digital) | £12 | £50 |
| Incorporation (Software) | £12 | £50 |
| Incorporation (Same Day) | £30 | £78 |
| Incorporation (Paper) | £40 | £71 |
| Confirmation Statement (Digital) | £13 | £36 |
| Confirmation Statement (Software) | £13 | £36 |
| Confirmation Statement (Paper) | £40 | £62 |
| Change of Company Name (Digital) | £8 | £20 |
| Voluntary Strike Off (Digital) | £8 | £33 |
You can view the full list of changes here.
UK is one of the cheapest countries to incorporate
In a global context, the UK remains one of the cheapest (and easiest) places to start a new company.
According to a major study by Business Financing UK into the cost of starting a business around the world, the UK remains one of the cheapest.
Twelve European countries have start-up fees of under £80, although there is a big variance in the associated costs of getting a business off the ground. Italy remains by far the most expensive – with reported costs of over £4,000.
Registering a new business in the US costs around £600, and the most expensive place to start a business in the world is the UAE with costs of just under £6,000
Tax-efficient protection for directors
- Life Insurance - pay via your limited company - save up to 50%
- Income Protection - tax deductible via your ltd company
- Professional Indemnity insurance - from £13.50/month via Qdos
