More than 200,000 businesses have used a new one-stop cross-government service allowing start-ups to register their company and also register for tax at the same time.
The Streamlined Company Registration Service, which has been set up in a collaboration between HMRC and Companies House, aims to ease the burdens on new businesses by removing the need to send duplicate information to both Companies House and HMRC.
Now, when registering with Companies House, businesses can also register for tax and HMRC’s digital services, making it easier for new start-ups to fulfill all of their legal obligations in one go.
The new service is part of the Government’s modern Industrial Strategy’s commitment to reduce administrative burdens on small businesses, enhancing the UK’s reputation as one of the best global environments for small businesses to thrive in.
Treasury minister, Mel Stride MP the financial secretary to the treasury said: “It’s never been easier to set-up a business in the UK. Reducing the administrative burden on small businesses is all part of this government’s commitment to support small business growth and cement Britain’s standing as a ‘Global Britain’.
“HMRC and Companies House are working hard to make business registration and tax easier. Previously the same information would need to be entered into a number of different platforms to register a company and register for tax, we have simplified that process.
“The government is committed to ensuring we can deliver a modern, digital tax system for all businesses and their agents supporting them to get their tax right and reducing the amount of tax lost through avoidable error.”
Small business minister Kelly Tolhurst adds: “British small businesses, and the entrepreneurial spirit behind them, are the backbone of the UK economy employing over 16 million people up and down the country.
“Through our modern Industrial Strategy we are making it easier for small businesses to grow and flourish by investing in modern industries, infrastructure and skills, and making it easier to access finance. Anyone thinking of starting a new business in 2019 should check out the huge wealth of Government advice and support available, and go for it.”