According to the latest data from the Government, more than 200,000 new businesses have used a new one-stop cross-Government service that allows new start-ups to register their business and also for tax and HMRC’s digital services at the same time.
The Streamlined Company Registration Service, which was set up in collaboration between HM Revenue & Customs (HMRC) and Companies House, eases the burdens on new businesses and enables them to concentrate on growth.
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, which is committed to reducing administrative burdens on small businesses and enhancing the UK’s reputation as one of the best global environments for small businesses to thrive in.
Mel Stride, 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.”