New Government service has helped 200,000 start-up businesses
Since the Streamlined Company Registration Service was launched last year, more than 200,000 start-ups have used the service.
HM Revenue and Customs (HMRC) and Companies House collaborated and set up the Government led service to allow start-ups to jointly register their company and also register their tax at the same time.
Because of the new service, businesses have been able to reduce their administrative burdens, as the system allows people to register with Companies House and also register for tax and HMRC’s digital services.
Therefore, start-ups can fulfil their legal obligations all in one place, and do not have to duplicate information to both Companies House and HMRC.
Moreover, this service supports the Government’s modern Industrial Strategy’s commitment of aiding small businesses in the UK, help them thrive, as well as, enhance the UK’s reputation as one of the best global environments for start-ups.
Financial Secretary to the Treasury, Mel Stride MP, said: “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 said: “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.”