Charge Registration Service

Finance

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Our Charge Registration Service is suitable for companies and limited liability partnerships (LLP) incorporated in the UK and anyone who intends to charge the assets of a UK company or LLP.

A company/LLP must register certain charges it creates by delivering prescribed particulars of the charge, together with the charge document itself and the applicable fee to Companies House. Charges must be registered within 21 days of creation. A company/LLP must also keep a register of charges it creates with its statutory books and make the charge and that register available for inspection.

 

What does our service include?

  1. Providing advice on whether the charge is registerable.
  2. Drafting the prescribed particulars for registration.
  3. Making all necessary filings at Companies House and the Land Registry (where appropriate).
  4. Creating/updating your statutory registers.

The effect of non registration is that the charge is void in situations where the beneficiary is most likely to want to rely on it.

Whilst most lenders will arrange their own registration, there are many situations where ‘private’ charges (such as to secure private investor, shareholder or director loans) may be given by a company/LLP.

 

CHARGE REGISTRATION SERVICE

From £180    ( £216.00 inc. VAT)

together with the Companies House fee of £13

We will provide you with a fixed quotation for advice and preparing all of the necessary documentation.

We can also advise you in relation to security documentation in general, including in relation to Debentures and Mortgages.

CHARGE REGISTRATION SERVICE – FREQUENTLY ASKED QUESTIONS

Here are some of the most frequently asked questions and answers about the registration of Charges. If you do not find the answer to your question below then do not hesitate to contact us.

What company/LLP charges must be registered at Companies House?

The following types of charges created by a company/LLP must be registered at Companies House:

  • a charge on land or any interest in land;
  • a floating charge on the company/LLP’s property or undertaking;
  • a charge on book debts;
  • a charge on goodwill or any intellectual property;
  • a charge on uncalled share capital (not applicable to LLPs);
  • a charge on calls made but not paid (not applicable to LLPs);
  • a charge for the purpose of securing an issue of debentures;
  • a charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale (the most common example is a charge on any chattels of the company/LLP such as machinery or other equipment); and
  • a charge on a ship or aircraft, or any share in a ship.
 
What is the effect of registration/non-registration?

Once the Registrar issues a certificate of registration for the charge, this is conclusive evidence of the registration requirements being satisfied and the original charge document will be returned to the person who filed it.

If a charge is not registered or not registered in time, it is void against a liquidator, administrator or other creditor of the company/LLP.

 
What can I do if I fail to register in time?

You can apply to court to extend the 21 day period for registration if you can satisfy the court that the failure to register in time:

  • was accidental, due to inadvertence or to some other sufficient cause; or
  • was not of a nature to prejudice the position of creditors or shareholders of the company; or
  • should otherwise be allowed on just and equitable grounds.

If a court allows an extension of time it is likely that any charges registered in the intervening period will have priority over your ‘late’ charge.

 
Do I need help to register a charge?

If your company/LLP is considering charging its assets or you are charging a third party’s assets then you will need to consider whether that charge is registrable, who should register it and what prescribed particulars need to be registered.

We can provide you with a fixed quotation for advising in this regard and also for drafting the security and underlying documentation.