Get an UTR for your company: how to do it in the UK

Are you looking to get an UTR for your company in the UK?

If you’re starting a business in the UK, getting an UTR for your company is a crucial first step. This Unique Taxpayer Reference Number (UTR) is issued by HM Revenue & Customs (HMRC) and is necessary for tax filing. Without it, you won’t be able to meet your tax obligations properly.

Why is it important to get an UTR for your company?

First of all, your UTR is required for submitting tax returns, communicating with HMRC, and ensuring your business complies with tax regulations. Moreover, without it, you may face difficulties when managing your taxes.

How to get an UTR for your company

Fortunately, obtaining your UTR is a straightforward process. To begin with, you need to register your business with HMRC. After that, HMRC will send your UTR by post within 10 days (or 21 days if you are abroad).

Ensuring compliance with tax regulations

Once you receive your UTR, it is crucial to keep it safe and use it whenever you file your taxes.

In addition, staying up to date with tax deadlines will help you avoid penalties and maintain good standing with HMRC.

By following these steps, you can easily obtain your UTR and ensure your business remains compliant with UK tax laws.

Get an UTR for your company: What is it and why do you need it?

The UTR is a 10-digit number that HMRC assigns to businesses and self-employed people in the UK. Specifically, this code is crucial for filing Self Assessment Tax Returns, which is the system you use to declare income and pay tax. Moreover, without this number, you will not be able to complete your tax returns correctly.

If you have registered a company as a Limited Company, you will receive your company’s UTR automatically after registration with Companies House. For the self-employed, you need to register manually on HMRC’s Self Assessment system.

Get an UTR for your company: Step by step

Here’s how to get your company’s UTR depending on the type of company you have.

1. For Limited Companies (LTD)

If your company is a Limited Company, the process to get the UTR is quite simple:

1. Register your company with Companies House. This is the first step in setting up a company in the UK. During registration, you will need to provide information about the company’s address, directors and shareholders.
2. Wait for notification from HMRC. Once you have completed registration, HMRC will send you a letter with your company’s UTR to the registered address.
3. Log in to the HMRC portal. With the UTR, you will be able to register for Corporation Tax and make your tax returns.

If you are self-employed, you also need to get a UTR to file your tax returns. Follow these steps:

First, register with HMRC as self-employed. You can do this online by using the Self Assessment portal on the HMRC website.

Next, wait for confirmation. After completing the registration, HMRC will send you a letter with your UTR within 10 days (or, if you are outside the UK, up to 21 days).

Finally, set up your Self Assessment account. Once you receive your UTR, you will be able to access your tax account and, as a result, file your tax returns.

Get an UTR for your company: How long does it take to get it?

The time it takes to get the UTR ultimately depends on HMRC. Typically, you will receive your code within 10 working days if you are in the UK. However, if you are abroad, the process can take up to 21 days.

If this time has expired and you haven’t received it, you can contact HMRC by calling the customer service number or by logging in to your online account.

What if you lose it?

If you lose your UTR, don’t worry. You can get it back in a number of ways:

– Checking your post: HMRC sends it in official letters.

– Log in to your Self Assessment online account.

– Contact HMRC by phone or chat.

It is important not to share your UTR with third parties as it is a private code associated with your tax.

Last considerations when getting your company’s UTR.

Getting your company’s UTR is an essential step towards operating legally in the UK. Whether you are self-employed or have a limited company, following the correct steps will ensure that your tax affairs run efficiently. Remember that without this number you will not be able to file a correct tax return, so make sure you apply for it on time.

If you have any questions about the process or, alternatively, need help, you can always consult an accountant or even contact HMRC directly. That way, you can ensure you’re following the correct steps. Once you have your UTR, you’ll be ready to run your business both efficiently and legally in the UK.