What is a UTR number?
UTR is the Unique Taxpayer Reference. As the name suggest it is unique to your business and to you. UTR is a 10-digit code and is used by HMRC whenever they’re dealing with your tax situation.
It depends on your business structure if you would be having one UTR number or two.
Sole Trader:
If you are a sole trader, you would be getting one UTR number from HMRC even if you have multiple type of sole trader businesses.
Limited Company:
If you have registered your company with companies house in UK, you will be automatically getting a UTR number that is unique to your business.
You need to look into the fact that company is a separate entity, and you are a separate individual to that. So, considering this fact if you need to report your income that you take from your company, you need a separate UTR number. So, in this case you would be having two UTR numbers one for your company and one for yourself.
Partnership:
In a partnership you will also be needing two UTRs. Partnership is also a separate entity so one UTR will be to report to HMRC for the partnership as a separate entity and other one would be separate from this which is to report your share of the income from the partnership.
How to get a UTR number?
When finding your UTR number, always consider your company and yourself separate So your company is a separate entity and you are a separate individual in your company. HMRC would keep the company records separate and your record separately.
Company Incorporation:
When you incorporate a company in companies house, you will automatically receive the company’s UTR number so that you can send a Company tax return to report company’s income and pay corporation tax.
A company’s UTR number looks usually begins with 3 numbers, then a 10 digit reference number and the letter ‘A’. For example, 123 0123456789 A
Self-Assessment:
In case you are taking income or dividend from the business and need to register yourself for self assessment, you would be getting a separate UTR number other then the one you have for the company.
A UTR for individuals is normally a 10 digit number, sometimes shown with the letter ‘K’ after it. For example, 1234567891 K
How can I get a UTR number by phone?
You get your UTR by phone by calling HMRC’s Self-Assessment helpline on 0300 200 3310. You’ll still need to give HMRC all the information they need to sort out your UTR and pass some security checks so they’re sure who they’re talking to.
Where can I find my UTR number?
Once you’ve been issued a UTR, you’ll be able to find it in all kinds of official HMRC documents, including:
- Your SA250 “Welcome to Self-Assessment” letter.
- Your Self-Assessment tax return paperwork.
- Your notice to file a tax return.
- Your statement of account.
- Any payment reminders you get.
What if I can’t find my UTR?
In case you are not able to find any letter or document from HMRC, you may be able to find it by signing up to your personal Tax account. You may also contact HMRC.
Before meeting the tax return deadline which is 31 January in case you are submitting your self assessment tax return online.
If you are looking for an accountant to help you with your queries related to your business accounts, Call at 020 35765107 or send a message to book a free consultation.
Note: It must be noted that the information provided in all our blogs are solely for the awareness purposes and are designed with the intention to create an ease for the reader to understand the rules and their importance. However, it should never be considered as an ultimate replication of rules. RezEx Accountants (RezEx Ltd) does not own any responsibility for any unpleasant event that may arise due to misinterpretation of a specific part or whole of the information.
