Register with HMRC

Whichever type of business has been started up, that business must register with HM Revenue and Customs. Failure to register within a certain period will result in an automatic fine.

During the course of your business, there will be many instances where HMRC will be interested in your business, such as:

  1. Firstly at the point of registration, HMRC will set your tax account up that will monitor the taxes payable and the due date of your business' accounts that will need to be filed
  2. Where you may be employing staff, your business needs to be registered for PAYE so that your employees taxes are recorded on their accounts
  3. If your business is within the construction industry, then you may have to register for CIS so that your subcontractors are deducted the right amount of tax
  4. Most businesses may also be required to register their business for VAT, especially where their sales are likely to exceed the VAT threshold.

This can be a minefield for new businesses, especially when certain factors are ignored as failure to comply may cost you and / or your business £000's in extra tax and penalties

At Jays, we will ensure that your business is correctly setup and registered for all the relevant taxes from day one. So you can proceed to run and develop your business with no fear or worry.

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