What is a company’s Unique Taxpayer Reference (UTR)?

      Comments Off on What is a company’s Unique Taxpayer Reference (UTR)?

A company UTR is a distinct 10-digit number that HMRC issues to all new limited companies. These numbers are used to identify companies for all tax-related purposes. You should keep a note of this number because you will need it to register for business taxes, file tax returns and pay corporation tax.

How do I get a Unique Taxpayer Reference (UTR) for my limited company?

Companies House will notify HMRC about your company’s existence when it is incorporated. There is no need to contact HMRC yourself at this stage. Within a few days of company formation, HMRC will send a letter to your registered office address with your company UTR. It will be printed next to a heading like ‘UTR’, ‘Tax reference’ or ‘Official use’. This letter will also explain how and when to register for business taxes.

The UTR will also be printed on all other forms of official correspondence from HRMC, including the ‘Notice to deliver a Company Tax Return’.

Can I use my own UTR number as my company’s UTR?

Personal UTRs are issued by HMRC to anyone who is registered for Self-Assessment. These are completely different to company UTRs so you cannot use your own taxpayer reference for your company. As soon as your company formation application has been approved, your business exists as an entirely separate legal entity. It therefore requires its own UTR. Your personal UTR can only be used by you as an individual when you file Self-Assessment tax returns and pay Income Tax and NIC on your personal income.

Ship Shape Accounting is on Twitter! Follow @shipshapeacc for more articles and news!