Failing to register when legally required can lead to significant consequences, including substantial financial penalties and potential criminal charges. Operating without registration undermines your business credibility and could result in severe reputational damage. HMRC can publicly list non-compliant businesses, which can negatively impact client relationships and future opportunities. Ensuring timely registration demonstrates professionalism, protects your business from regulatory risk, and enhances client confidence.
Private escrow accounts provide security, trust and transparency to ongoing or ad-hoc payment requirements.
Third-Party Managed Accounts (TPMA's) are a convenient way to manage complex, high-value or even routine payment operations.