The idea
Abolish the need to submit an annual return to companies house for small businesses. Every year it costs me £15 just to log on to a web site, tick a box and click send. £15 may not sound like much but there are penalties for failing to submit the return and it can lead to losing your limited company.
Why not make it mandatory to submit a return only if something changes? There must be millions of small limited companies in which nothing changes from year to year, yet we have to jump through this stupid revenue-raising hoop.
Why is it important?
There are penalties for failing to submit the return and it can lead to losing your limited company. If the £15 fee is to cover admin, then its grossly unfair because there is no way to avoid the fee and it becomes another tax.