Photo by Peter Church, CC BY-SA 2.0, Companies House Cardiff Office
With thanks to Will DrysdaleReporter, Accountancy Daily
From 1 May 2024, fees for registering a new company are set to rise significantly for the first time since 2016.
Currently, to set up a business or limited liability partnership it costs just £12; this is set to increase to £50 to incorporate a new company or LLP online and up to £78 for same day registrations.
The cost for overseas businesses incorporating a company in the UK has increased from £20 to £71, The fee to register annual accounts will also be tripled to £62, from £20.
There are also increases in the fee for overseas property owners to sign up for the mandatory register of overseas entities (ROE). The current £100 will go up by over double to £234, with an additional fee of £234 for any further updates. This is currently £120. The application for removal will also be increased to £706, a substantial rise from the current £300.
As well as fees increasing from May, there are set to be stricter policies for identification verification online when setting up a company. For more information please go to Companies House fees 2024.
