200,000 start-ups take dual registration route

Corporation Tax, Limited Company, News,

Since the combined registration service was set up more than a year ago, with HMRC and Companies House working in partnership, more than 200,000 new businesses have benefitted.

The new company registration service enables companies to register for tax and HMRC’s digital services at the same time as registering their company with Companies House. This reduces the administrative burden and makes the process of getting the new company registered far simpler. There is now no need to send the information twice.

Whilst it may be a small step towards reducing the administrative burden on businesses, anything that makes setting up easier is a positive step!

Mel Stride, financial secretary to the Treasury, said: “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. 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.”

Setting up a new business can be hard work, particularly if it’s the first time you’ve been through the process. The Companies House website is a great starting point to find out what you need to consider. Make sure you speak to your Accountant to get your records set up in the right way from the start, as redoing them will take time that you won’t want to spend as your business takes off.

Whilst we tend to work with companies who have been trading for a minimum of two years, if you’re struggling to find the right support, do get in touch. If we can’t help you, we’ll be happy to put you in touch with someone who can.

 

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