New Companies House fees important step toward the robust corporate transparency regime

Transparency International UK have welcomed an announcement from Companies House on new, increased fees to fund its work in “building a more trustworthy environment for consumers and legitimate businesses and reducing the harm they face from those who do not meet their obligations”.

Responding to the announcement, Duncan Hames, Director of Policy and Programmes, Transparency International UK said:

"These changes are an important step toward the robust corporate transparency regime we have long advocated for. The increase in fees will provide crucial funding for the enhanced enforcement capabilities needed under the Economic Crime and Corporate Transparency Act and enables Companies House to take a more active role in shutting down suspicious shell companies alongside partners in law enforcement.

"For years, the UK's company register has been exploited by criminals precisely because Companies House lacked the powers and resources to effectively police it. The modest rise in incorporation fees will enable the investment in enforcement activity that is desperately needed, including additional staff, sophisticated tools, and proactive approaches to identify and remove fraudulent companies from the register.

"Even with these fee rises, the UK remains one of the most affordable countries in the world to form and administer companies - while now offering far greater protections against misuse."