I am delighted to announce that the new online incorporation process for registering new community interest companies (CICs) went live on Monday 11th March 2019. With the number of CIC’s on the public register at over 15,000, and increasing by well over 2,500 each year, this new digital registration option will:
- significantly reduce incorporation times,
- offer online convenience; and
- 24-hour availability to the CIC sector
When I became Regulator, one of my goals was to improve service delivery. The new process will make completing the application process easier and help to reduce filing errors and rejections. As well as including CIC and Company House registration this three-way digital service includes HMRC, enabling CICs to register for corporation tax as they incorporate their business.
The new system will let applicants know that their application has been received and confirm incorporation as soon as it is completed, usually within two working days. It will also allow Companies House to process and place community interest companies on the public record far more efficiently than paper documents. The online process will provide benefits such as security, speed and environmental savings.
Digital incorporation will:
- Reduce incorporation costs for prospective CICs to £27
- Allow payment by card or PayPal; and
- Confirm incorporation - within 2 working days, in the majority of cases.
I look forward to seeing online applications becoming the preferred option for all CICs. I welcome your views and feedback on the new system. In time, we will be offering a much wider range of online filing services for CICs.
For further information on the new online process, take a look at our step by step guides.