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registered interest false more like this
date less than 2014-06-30more like thismore than 2014-06-30
answering body
Department for Business, Innovation and Skills more like this
answering dept id 26 more like this
answering dept short name Business, Innovation and Skills more like this
answering dept sort name Business, Innovation and Skills remove filter
hansard heading Business: Registration remove filter
house id 1 more like this
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of online business registration on registration rates; and if he will make a statement. more like this
tabling member constituency Windsor more like this
tabling member printed
Adam Afriyie more like this
uin 202986 more like this
is ministerial correction false more like this
date of answer less than 2014-07-07more like thismore than 2014-07-07
answer text <p>There is no register covering all businesses in the UK. The Registrar of Companies registers a subset of businesses and provides online registration for those businesses that register as companies or limited liability partnerships. HMRC registers sole traders for tax purposes.</p><p>Online incorporation via software filing agents was introduced in July 2001, followed in April 2010 by the launch of the Citizen Incorporation service via Companies House Webfiling. The number of companies on the register has almost doubled, from 1.66 million at the end of March 2001 to 3.25 million at March 2014. In the financial year 2013/14, 98% of all new companies were incorporated electronically.</p><p>Companies House has carried out several studies to identify the main factors contributing to the increasing trend for company incorporations. This is attributed to a number of combined factors, such as the benefits of limited liability, changes to tax legislation and developments in the wider UK economy. There is no indication that the electronic enablement of company registration in itself has acted as a direct driver for the increase in new company registration rates, as just one of the methods the Government has used to help reduce the burden on business and the costs of running a company. This in turn has helped to make the UK one of the best places to set up and run a company.</p><p>Electronic services have also enabled Companies House to absorb the significant additional workload resulting from the growing register, make organisational efficiency savings and pass these efficiencies on to customers in the form of lower fees. For incorporation, the UK charges some of the lowest fees in the World.</p>
answering member constituency Sevenoaks more like this
answering member printed Michael Fallon more like this
question first answered
less than 2014-07-07T16:05:48.5739461Zmore like thismore than 2014-07-07T16:05:48.5739461Z
answering member
label Biography information for Sir Michael Fallon more like this
tabling member
label Biography information for Adam Afriyie more like this