New Businesses
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the time taken for Companies House to reconcile their information with HMRC on the ability of new businesses to (a) employ staff, (b) register for PAYE and (c) issue VAT invoices.
Answered by Dan Tomlinson
The Government recognises the importance of efficient and timely coordination between Companies House and HMRC in supporting the operational readiness of newly incorporated businesses. There is currently a timely data-feed between Companies House and HMRC.
HMRC continue to review how improved data-sharing and increased automation can support new businesses and reduce administrative burdens.
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