HMRC charge penalties to all business that do not register within a maximum of three months.
Companies House advise the local tax office of all new companies formed in their area.
All companies must file their details on Form CT41G or advise within three months of commencing trading, providing details of the business and directors.
Sole Trader/ Partnership
Non limited businesses must notify HMRC within three months of commencing trade providing details of both the business and the owners.
New employers must notify HMRC that they are employing staff and provide details for each new employee. This must be provided before the first wages are due.
A business that has to be registered for VAT has 30 days to advise HMRC of their obligation to charge VAT.
ALL OF THE ABOVE HAVE AUTOMATIC FINES IF NOT COMPLIED WITH