Are HUGE Company House fee increases justifiable?

Are 160% or more increases in Company House fees warranted?

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Confirmation Statement fee is rising from £13 to £34. Other fees similar increases. Small beer maybe but how can they justify this kind of increase?

Replies (32)

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By Matrix
20th Feb 2024 05:06

Maybe. There are many changes including providing an email address from 4 March and id in due course. We will recover the increased filing fee and will bill for any additional work. Shame they can never set fees which are divisible by 12.

https://companieshouse.blog.gov.uk/2024/01/22/get-ready-for-changes-to-u...

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By Tax Dragon
20th Feb 2024 05:49

Dougscott wrote:

Are HUGE Company House fee increases justifiable?

Yes.

Dougscott wrote:

Are 160% or more increases in Company House fees warranted?

Yes.

Dougscott wrote:

Confirmation Statement fee is rising from £13 to £34. Other fees similar increases. Small beer maybe but how can they justify this kind of increase?

https://companieshouse.blog.gov.uk/2023/07/03/reviewing-companies-house-...

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VAT
By Jason Croke
20th Feb 2024 08:11

If the fees allow CH to actually police their own process, then yes, absolutely justified and reasonable.

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DougScott
By Dougscott
20th Feb 2024 09:06

I guess there is a case to make the fee for setting up a limited company much higher to make people think twice before doing so. Might reduce the number of inane questions we get on here from people who have set up a limited company as some sort of hobby and think they dont need an accountant.....

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Replying to Dougscott:
paddle steamer
By DJKL
20th Feb 2024 16:26

I want a bond- to open a limited you pay a deposit to co hse, do not close company correctly etc bond is forfeit. Say £3,000, enough to hurt if lost.

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Replying to DJKL:
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By Bobbo
20th Feb 2024 18:20

I was thinking something similar only the other day - though was not thinking as high as £3,000.

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Replying to Bobbo:
paddle steamer
By DJKL
25th Feb 2024 15:41

Certainly Sweden has minimum share capital requirement but of course that is no good if they later loot everything and leave company dangling, without a body monitoring and preventing this minimum capital is really not the cure. (Could of course say minimum share capital of £3,000 and personal liability for same if company not correctly folded, but that of course leaves expensive recovery action needed for what is a small sum, I am not keen even say using small debt process through courts for small sums so do not really see as a solution.

https://bolagsverket.se/en/foretag/aktiebolag/startaaktiebolag.479.html

25,000 SEK minimum share capital (a bit over £2,000)

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RedFive
By RedFive
20th Feb 2024 11:52

Just taken £3k off my bottom line as I don't re-charge.

Oh well. Back to the Aldi beans.

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Replying to RedFive:
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By SkyBlue22
20th Feb 2024 12:21

If you were going to start recharging, an increase in fees from Companies House is a good 'excuse'.

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Replying to RedFive:
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By rmillaree
20th Feb 2024 12:40

Just taken £3k off my bottom line as I don't re-charge.
Oh well. Back to the Aldi beans.

add 4k back on by charging and adding a fee ! - at least you have an excuse with increase

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Replying to RedFive:
DougScott
By Dougscott
20th Feb 2024 13:07

RedFive wrote:

Just taken £3k off my bottom line as I don't re-charge.

Oh well. Back to the Aldi beans.

1) Are Aldi beans as good as Heinz 57?
2) Can I deduct the cost of beans from my company profits?

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Replying to RedFive:
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By Paul Crowley
20th Feb 2024 16:59

I never bothered
Will now add to company accounts fee

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Johny Fartpants Picture
By johnny fartpants
20th Feb 2024 12:49

Given that these fees used to be £15 in 2010, before reducing to £14 in 2011 and reducing further to £13 in 2012 (for what used to be called the "Annual Return", remember those days??), and that more information will be required for the new returns, then my answer would be yes, it is justified.

If you are really struggling for cash, I suppose you could always file your renewal on March 4th and give yourself extra time before the new fee (and additional information requirements) are required. Seems a bit drastic in my opinion.

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Replying to johnny fartpants:
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By Wanderer
20th Feb 2024 17:18

Annual Return fee used to be £32 back in the eighties. I remember CH being hauled over the coals about it, something to do with they weren't allowed to make a profit on the service. It was then that they reduced it down to a lower level.

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By rmillaree
20th Feb 2024 14:29

does anyone know if cic34/accounts filing fees are increasing ?

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Replying to rmillaree:
DougScott
By Dougscott
20th Feb 2024 16:12

Yes, I was wondering this as well. They weren't listed on the press release I saw. Hopefully they'll stay the same. In fact they really need to improve the service for CICs so they can file online....should make it CHEAPER for Companies House to operate.

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Replying to Dougscott:
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By rmillaree
20th Feb 2024 19:17

In fact they really need to improve the service for CICs so they can file online.

ahhhh but you can file online - just dont prepare micro entity accounts if you want to do so !!!

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David Winch
By David Winch
20th Feb 2024 17:01

I believe the new fees will come into effect on 1 May 2024. Certainly worth ensuring your clients' confirmation statements are up to date by 30 April!
David

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By OldLag
21st Feb 2024 10:44

There can't be any marginal cost on a confirmation statement, surely? It's done online, and you click buttons which are already in place - £13 is bad enough for a no change statement - £34 surely that's a misprint?

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Replying to OldLag:
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By rmillaree
21st Feb 2024 11:16

their argument would be the system has the overhead it has of running the entire system - that high fixed needs to be borne presumably by sevryone who submits. If they need second higher spec new ssytem to deal witn new obligations running independently or alongside then that kinda explains the price increase as that wont come cheap from scratch.

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Melchett
By thestudyman
24th Feb 2024 22:16

I still think incorporation fees are cheap when compared to countries in the Eurozone.

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RedFive
By RedFive
28th Feb 2024 08:22

Agreed on the incorporation. £50 won't stop the scammers and vagabonds.

The annual confirmation statement though is a 261% increase for what is generally just a few clicks. What exactly are Companies House doing to justify the charge?

Checking the email address that must now be provided? I bet not.

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Replying to RedFive:
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By rmillaree
28th Feb 2024 11:59

what is crazy if that piuncode sent to registered office that need to be entered before company is activated would be super simple step to cut out most of the fraud where they use random address they dont need access to - i raised this point withn c house and they simply said that cant technicaly be done - thats how stupid they are .

particularly as there is already then current facility to apply for copy authentication coes anyway so they would simply need to link up to that.

unbelievable stupidness that between them they both cant of thought of this obvious easy step years ago - beyond unbelievable really

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By 0098087
05th Mar 2024 14:14

Didn't realise web filing is going to stop and we need software to file confirmation statements. Recommendations please!

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Replying to 0098087:
stonks
By WinterDragon
05th Mar 2024 15:20

Current timescale on this is over the next 2 to 3 years so I'd hang on for a trade show and go have a look round at the options.

https://changestoukcompanylaw.campaign.gov.uk/changes-to-accounts/

You may find your current accounts production software is already capable of filing accounts digitally.

I'm not sure if confirmation statements will require digital submission through software but somebody please correct me if wrong!

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Replying to WinterDragon:
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By 0098087
05th Mar 2024 15:47

I already file the accounts digitally but I've just watched a Xero webinar and confirmation statements will need to be filed by software. No idea on timescale

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Replying to 0098087:
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By FactChecker
05th Mar 2024 20:38

".. confirmation statements will need to be filed by software" - or just that there will be an option to do so?

I've no idea, but Xero may be taking the Christine Keeler approach there. After all, the govt may be keen on 'everything digital' but is also keen on not discriminating - so withdrawal of their own online facility (maybe?), but outright mandation of need for commercial software (less likely?)

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Replying to 0098087:
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By DKB-Sheffield
05th Mar 2024 17:05

0098087 wrote:

Didn't realise web filing is going to stop and we need software to file confirmation statements. Recommendations please!

I can't fault Inform Direct personally. Also good for the parallel thread about signing off CS01 submissions (provides a summary for signing purposes). Even if CH don't cease web filing for CS01s, it's worth a wee look. Keeps everything in one place and easy to view!

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By DKB-Sheffield
05th Mar 2024 17:01

Just in case anyone is mildly interested... I've just done the calculation to look at the cost-benefit of bringing CS01 filing dates forward to 30/04/2024.

It would appear that the cut-off date is 18th Jan 2025. Any returns due before that date (and obviously due after 30/04/2024) would see a marginal reduction in annual fees if filed on 30/04/2024 instead of the normal CS01 date.

If all my clients (small SP practice) filed early, savings would be over £1K.

Not suggesting, or recommending this to all BUT, food for thought - particularly if you have lots of CS01s due in the summer/ early autumn!

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Replying to DKB-Sheffield:
stonks
By WinterDragon
18th Mar 2024 15:30

Thanks for doing the maths, I've just run the same calc for us and the numbers were surprising. Well worth doing the analysis and it'll bring most of our confirmation statements to the same time each year so we'll be (almost) free of doing conf statements for nearly 9 months of the year.

Now to decide how much of this saving to pass onto clients...

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Replying to DKB-Sheffield:
David Winch
By David Winch
18th Mar 2024 15:54

Are you sure this will save filing fees? There's some official guidance at https://www.gov.uk/guidance/confirmation-statement-guidance#payment-period
David

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Replying to davidwinch:
stonks
By WinterDragon
18th Mar 2024 17:36

Now David, I was singing your good graces just last week and now you're ruining my Monday!

I must admit I had been blissfully unaware of this payment period malarkey but I wonder how it actually applies. I do wonder, if by filling an additional confirmation statement early, whether the date extends and this allows you to kick the date that you next need to pay down the road and you would benefit from a technical cashflow POV. Don't let my PB hear me say this but legislation and guidance is one thing but government IT systems are a whole different beast.

Maybe I'll give it a test run with our company mid-April and see what happens.

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