Companies House Registration Fees are expected to increase in May 2024, marking the first adjustment since 2016. Starting on May 1, 2024, there will be changes in the fees for registering a company or limited liability partnership (LLP) in the UK.

The current fee of £12 for initiating a business or LLP will see the following adjustments;

• Online incorporation fee will be set at £50.
• Same-day registrations may cost up to £78.

For overseas businesses incorporating a company in the UK, the fee will increase from £20 to £71. Finally, the registration fee for annual accounts is set to rise from £20 to £62.

Companies House states that this increase in fees is not driven by profit motives but is intended to cover the costs of their services and ensure the sustainability of their operations. The aim is to deter fraudsters from setting up companies. However, questions remain about whether the increased fee of £50 will discourage fraudulent activities. In addition to adjusting fees, there are policies looming regarding verifying online identity when setting up a company. This added security step is set to strengthen the registration process and improve its reliability.

The upcoming modifications in registration fees and related actions strive to uphold integrity, prevent fraud, and enhance the accuracy of information on Companies House records. For more information, on these changes please check out the link below.

https://www.accountancydaily.co/companies-house-increases-registration-fees

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