Introduction
As part of its ongoing efforts to streamline services and ensure sustainability, Companies House has announced forthcoming changes to its pricing structure for various filing services. For businesses across the UK, understanding these changes is crucial to ensure compliance and effective financial planning. This blog post will delve into the specifics of the upcoming pricing adjustments, their implications for your business, and how to prepare for them.
Overview of Changes
Companies House plays a pivotal role in business registration and compliance, offering a range of services essential for maintaining the legal standing of businesses in the UK. The upcoming changes to the pricing structure are designed to reflect the evolving needs of the business community and the costs associated with maintaining a robust and efficient filing system.
Key changes include:
- Increase in Filing Fees: Certain document filing fees will see an increase.
- Digital vs. Paper Filings: To encourage the use of more efficient and secure digital services, Companies House are introducIng a pricing differentiation between digital and paper filings, with paper filings incurring higher fees.
- New Service Fees: Companies House may introduce fees for services that were previously free, particularly those requiring substantial manual processing or enhanced due diligence.
| Transaction | Channel | New fee |
|---|---|---|
| Incorporation | Digital | £50 |
| Incorporation (same day) | Software | £78 |
| Incorporation | Software | £50 |
| Incorporation | Paper | £71 |
| Registration under s1040 (Part 33 Chapter 1) CA06 | Paper | £71 |
| Re-registration of a company under Part 7 CA06 | Paper | £71 |
| Re-registration of a company under section 651 CA06 | Paper | £71 |
| Re-registration of a company under section 665 CA06 | Paper | £71 |
| Confirmation statement | Digital | £34 |
| Confirmation statement | Software | £34 |
| Confirmation statement | Paper | £62 |
| Change of name | Paper | £30 |
| Change of name (same day) | Digital | £83 |
| Change of name | Digital | £20 |
| Registration of a charge | Paper | £24 |
| Registration of a charge | Digital | £15 |
| Voluntary strike off | Paper | £44 |
| Voluntary strike off | Digital | £33 |
| Reduction of share capital of a company under s644 CA06 (same day) | Digital (upload service) | £136 |
| Reduction of share capital of a company under s644 CA06 | Paper | £33 |
| Reduction of share capital of a company under s644 CA06 | Digital (upload service) | £33 |
| Reduction of share capital of a company under s649 CA06 (same day) | Digital (upload service) | £136 |
| Reduction of share capital of a company under s649 CA06 | Paper | £33 |
| Reduction of share capital of a company under s649 CA06 | Digital (upload service) | £33 |
| Administrative restoration | Paper | £468 |
| Application to make an address unavailable for public inspection | Paper | £30 |
Impact on Your Business
The pricing changes at Companies House will have direct financial implications for businesses, especially those that rely heavily on paper filings or require frequent interaction with Companies House. The shift towards incentivizing digital filings aligns with broader trends towards digital transformation and sustainability but may necessitate adjustments in your business processes.
Preparing for the Changes
To minimize the impact of these pricing changes on your business, consider the following steps:
- Stay Informed: Keep abreast of announcements from Companies House for specific details on any further changes.
- Transition to Digital: If your business still relies on paper filings, now is the time to transition to digital services. Not only will this mitigate the cost increases, but it will also streamline your filing processes.
- Budget Accordingly: Review your budget to accommodate the anticipated increase in filing costs. Planning ahead will help avoid any unwelcome surprises.
- Seek Professional Advice: Consult with your accountancy or legal advisor to understand the full implications of these changes for your business and to explore potential strategies to mitigate their impact.
While the pricing changes at Companies House may require some adjustments, they also present an opportunity for businesses to modernize their filing processes and embrace the benefits of digital services. By staying informed, planning ahead, and seeking professional advice, you can navigate these changes with minimal disruption to your operations.
Ensure your business stays compliant and cost-efficient amidst these changes. For professional advice and assistance in transitioning to digital filings or adjusting your financial planning, please get in touch. Our team is here to support your business through these updates and beyond.
