The figures are indicative and subject to change, but the SIA hopes they will help businesses in the UK prepare for the changes which come into force in April 2015. Businesses will need to apply by October 2014 to guarantee they have a license in place by the deadline.
The cost for licenses will be divided into two parts: an application fee and an annual subscription fee, with the annual fee based on the average headcount in your business during the previous 12 months.
License fees fall into four categories based on size of business:
- Micro and small businesses – £300-500 application fee followed by flat subscription fee of £500-1000.
- Medium – £650-1000 application fee followed by annual subscription fee of £500-1000 plus a per head cost of £17-25.
- Large – £1000-1400 application fee followed by annual subscription fee of £500-1000 plus a per head cost of £17-25.
The exact fees will be set by the Home Office and HM Treasury.