The Streamlined Company Registration Service, which has
been set up in a collaboration
between HMRC and
Companies House, will ease the burdens on new
businesses, enabling them to concentrate on what they
do best – producing goods, providing services and
contributing to the UK’s reputation as one of the best
places in the world to start a business.
When registering with Companies House, companies can
also register for tax and HMRC’s digital
services, making it easier for new start-ups to fulfil
all their legal obligations in one go.
The change, which came into effect last year, removes
the need for businesses to send duplicate information
to both Companies House and HMRC.
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.
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.
Small Business Minister said:
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!
- the joint service known as the Streamlined Company
Registration Service supports the government objective
to reduce administrative burdens on small businesses to
support growth and was announced as part of the Small
Business, Enterprise and Employment Act 2015
- Companies House and HMRC worked
together on the joint service to both set up a limited
company and register for Corporation Tax, and register
an employer for Pay As You Earn (PAYE) tax
- a formation agent can still be used to register
businesses, and formation agents can continue to act
for their clients
