Why do I need to pay money to set up a company?

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I’m conducting some research into starting my first business, and I notice it costs money to incorporate as a company through Companies House. Can anybody tell me why? Where does that money go, and do I have to pay it?

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Companies House charges a processing fee to register a limited company. This covers the cost of incorporating your company as a legal ‘person’, providing a set of incorporation documents, placing your company details on the public register and notifying HMRC of your company’s existence.

You pay this fee directly to Companies House or through a company formation agent, depending on how you choose to set up your company.

 

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