There’s a bit of a stir happening over at Companies House, and it’s something you’ll want to be in the loop about, especially if you’re running a business or thinking of starting one. They’re rolling out some updates aimed at making things clearer, more secure, and a tad more digital. Plus, there’s a little adjustment in the fee department that’s worth noting.
The Fresh Scoop on Changes
First off, from 4 March 2024, Companies House is getting a bit more elbow room to check the details you send their way. They’re putting a magnifying glass on company names, office addresses, and introducing something called “lawful purpose statements.” It’s all about ensuring that everyone’s on the straight and narrow.
Emails are now part of the mix too. When you’re updating your confirmation statement, you’ll need to drop in a registered email address and confirm that your company’s future plans are all kosher.
Identity checks are stepping into the spotlight as well. Anyone involved in setting up or steering the company ship will need to verify their identity. It’s like a virtual handshake to confirm you are who you say you are.
And here’s a biggie – the shift towards filing accounts digitally. It’s goodbye paper trails and hello software, aiming to streamline the process for small businesses.
Got personal info in old documents that you’d rather not broadcast? There’ll be options to tuck that away, especially if it’s a matter of safety.
Limited partnerships and company ownership transparency are also getting a makeover. Expect to share a bit more info and navigate some new rules aimed at keeping everything above board.
Fee Talk: What’s Changing?
Now, let’s chat about the fee changes kicking in from 1 May 2024. Here’s the lowdown on a couple of key fees:
- Company Formation: Thinking of bringing a new company to life? Doing it online or through software will cost you £50 (previously £10-£12). If you’re more of a pen-and-paper person, the fee jumps to £71.
- Annual Confirmation Statement (CS01): This is the yearly check-in to confirm your company details are still accurate. Filing this online or via software comes with a £34 fee (previously £13), while the paper version will be £62.
- Voluntary Strike off (DS01) : This is the process used to close a company down when it is no longer trading or no longer needed. The fee for this will be £33 if filing digitally (previously £8).
A full list of the new fees that will come into play from 1st may 2024 can be seen on the Companies House website here.
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