Starting a business has ‘never been easier’ thanks to a new streamlined Government registration service.
The one stop cross-Government service allows start-ups to jointly register their company and register for tax at the same time.
Called the Streamlined Company Registration Service, it has been set up by HMRC and Companies House to ease the burdens on new businesses. It means that when registering with Companies House, businesses can also register for tax and HMRC’s digital services, so that all obligations are fulfilled in one go. Previously, businesses had to register the same information with both organisations.
More than 200,000 start-ups have used the Streamlined Company Registration Service since the change came into effect last year.
Reducing administrative burdens on business
The new service is part of the Government’s modern Industrial Strategy and its commitment to reduce administrative burdens on small businesses.
Mel Stride MP, 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.
“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.”
‘New Year, new you, new business’
Small Business Minister, Kelly Tolhurst, added:
“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.
“There’s only one more thing you need in order to start a business in the New Year: passion. You have a new idea that you, and those around you, truly believe in, that excites you and that you are motivated to bring to life. Get your start-up in gear. After all, New Year, new you, and a new business too!”
For more information, visit GOV.UK.