A Quick Guide to Registering Company Charges at Companies House
What needs to be registered?-
All charges entered into by a company must be registered at Companies House unless it falls within the exceptions set out in a859a(6) (landlord's rent deposit). Chapter A1 of Part 2 Companies Act 2006 (CA 2006) sets out the law. Inserted by the Companies Act 2006(amendment of Part 25) Regulations 2013 SI 2013/600. The law applies only for charges created on or after 6 April 2013.
How long do you have to register it?
The Company or an 'interested person' (lender, legal advisor) is required to deliver within 21 days particulars of a charge to Companies House.
Note that the time limit has been temporarily extended due to COVID-19 from 21 days to 31 days applies until 5 May 2021.
What do I need to send?
* Particulars of a charge.
Either form MR01 or form MR08 if the charge is created orally.
The particulars go onto the public record. They do not have to state which assets are secured by a fixed charge but merely have to specify whether the assets secured by a fixed charge include land, ships or commercial property.
* A certified copy of the completed charge.
You are permitted to redact (cross out) sensitive information like signatures and bank account numbers so these are not on the public record.
* £23 payment
Where do I send it?
Either post to Companies House in Cardiff or it can be electronically filed with a certified copy of the charge submitted as a pdf for £15.
Consequences of not delivering the particulars to Companies House?
If you fail to deliver the particulars to Companies House within the time limit, it is not
a criminal offence but the charge becomes void against creditors, liquidators, administrators and immediately repayable.
Certificate of Registration
Companies House will send back a certificate of registration as conclusive proof of proper delivery This certificate will include a unique reference code which will need to be quoted when you have satisfied the charge and apply to Companies House to have it removed from the company records. The certificate of registration needs to be kept at the companies registered office or at a single alternative inspection location so it is available for inspection.
This is not legal advice and is guidance only.
26 February 2021
MY BUSINESS COUNSEL
m: +44 (0) 7716 345 702