Source · Select Committees · Treasury Committee
Recommendation 54
54
Paragraph: 238
The Government should significantly increase the costs of company and Limited Liability Partnership incorporation, including...
Recommendation
The Government should significantly increase the costs of company and Limited Liability Partnership incorporation, including Scottish Limited Partnerships, and should review other Companies House fees to bring them closer to international standards. A fee of £100 for company formation would not deter genuine entrepreneurs, and would raise significant additional funding for Companies House and for the fight against economic crime. It would also help compensate for the wider costs on the public sector of large numbers of company formations.
Paragraph Reference:
238
Government Response
Not Addressed
HM Government
Not Addressed
The government recognises that there is a balance to be struck between setting fees at a level that does not discourage entrepreneurship, whilst also providing a sustainable funding model for Companies House to deliver on its objectives. The government believes the current fees for company formation are too low, and do not reflect the value of the register or the cost of maintaining it. That is why the government has committed to increasing fees for company registration and other services, as set out in the White Paper on Corporate Transparency and Register Reform. We will bring forward legislation in the Third Session to deliver these changes.