A teenage schoolboy has become the brains behind one of the UK's fastest-growing companies, with minimal overheads and a huge profit margin, after spotting a gap in the market.

Thirteen-year-old Harvey Millington had his brainwave after hearing about motorists getting fined or clamped for forgetting when their car tax or MOT was due, since the government scrapped the tax disc last year.

With his dad's help, he set up Tax Disc Reminder - a limited company which creates tax disc-style inserts which fit into the windscreen holders many still have in their car, reminding drivers of the important dates.

Just eight weeks in, the teen entrepreneur has raked in more than £3,000 - though he has not yet decided what to do with his newfound wealth.

The money is nice. I haven't got any plans for it yet though. I've had quite a few teachers asking me about it but my friends don't really know too much.

Harvey Millington, entrepreneur
The discs come in a range of designs Credit: SWNS

At £4 a pop, the discs come in a variety of designs - and could save motorists up to £800 in fines and costs.

Harvey's father Howard fronted the £2,000 set-up costs, which included buying and creating the TaxDiscReminder.com website, a cutting device, eight different designs - including the Welsh dragon and Batman - and local advertising.

The 46-year-old businessman also set up the limited company, due to his son's young age, but since then has left him to run things himself.

Harvey runs the company by himself Credit: SWNS

He said he has tried in instill a strict work ethic in his son.

I do drive him hard. I don't give him nothing for nothing. You have to work. That's my philosophy and he has to follow it.

Howard Millington, father