Government of U.K. is helping the new startup companies to the maximum level as these companies are holding the backbone of U.K. economy employing 16 million of people all over the country.
What kind of a helping hand they are extending is discussed below:
Government has allowed 2000,000 new businesses to use a new one stop cross government service and register their company for tax at the same time.
This will ease the burdens on new business enabling them to concentrate on what they do best – producing goods, providing services and contributing to the U.K’s reputation as one of the best place in the world to set up a business.
When registering with Companies House, companies can also register for tax and HMRC’s digital services, making it easier for new startups to fulfill all of their legal obligations in one go.
The change which came into effect last year removes the need for business to send duplicate information to both Companies House and HMRC.
The new service is a part of the government’s Industrial strategy’s commitment to reduce administrative burdens on small startup companies, enhancing U.K’s reputation as one of the best global environment for small business startups to flourish.
Companies House, and HMRC worked together on the joint service to both setup and limited company and register for corporation tax, and register employer for Pay As You Earn (PAYE) tax. A formation agent can still be used to register business, and a formation agent can continue to act on behalf of their clients.
It has never been so easy to set up a startup company in U.K. earlier. Now the government has come forward and given some help line to these companies by reducing the burden of small companies. This has caused a remarkable change for the economic growth of the country. Taking this assistance nearly 200,000 companies have opened their business in U.K. and this has become a support system For many people of this country as they have found employment for themselves in these startup companies.
So you can also take the helping hand from U.K. government and start setting up a company in U.K. All that you need is your passion for doing something fruitful in a place like U.K. You will surely achieve your success shortly.