Tax Law Loophole leads to Increase in Registrations at Companies House

10th October 2007

The latest annual report from Companies House has shown a huge increase of 449,000 registrations of companies at Companies House this year. The huge rise in company registrations began at the beginning of the year, tapering off by April.

The rise in company registrations at Companies House is due to the tax law changes that allow managers to register companies themselves. Former chancellor, Gordon Brown, had promised to crack down on tax avoidance after the last pre-budget report on 6th December 2006, this meant that there are proposals to remove the tax advantage that MSCs (Managed Service Companies) traditionally offered their clients.

This move by the government meant that many of the workers that operate within MSCs were forced to incorporate and register their own company at Companies House to benefit from the lower tax bills.

This massive rise in registrations at Companies House is not expected to be repeated next year.

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