A new service to allow people to form a company and register for business taxes at the same time has now been used over 200,000 times.
The collaborative system provided by HMRC and Companies house since last year allows people to form a company and register for corporation tax and employers' PAYE (Pay as you Earn) together in one place.
People looking to incorporate their new startup can now register with Companies House and at the same time register with HMRC Digital Services thus making sure they are fully compliant from the first step - and removes the previous two step process where the same information would be submitted to two entities.
Small businesses now employ over 16 million people in the UK and it is part of the modern industrial strategy to cut the white tape in setting up a business and obtaining finance, part of the Small Business, Enterprise and Employment Act 2015.
The service costs £12 and can be accessed from gov.uk/limited-company-formation/register-your-company, with the company registered within 24 hours.