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Our specialists are here to assist you with keeping your business's profits after you paid them. We know how hard it is to keep up with any losses your business makes and how complex can the legal framework be. Most self-employed specialists lack the time and expertise to sort out their taxes; at Great Way, we offer easy and affordable solutions to ease off your burden and let you concentrate on building your successful future.

Who is self-employed?

You are considered a sole trader or self-employed if you start working for yourself. However, even if you haven't yet told HM Revenue and Customs (HMRC), you are still required to pay taxes.
The following professions are considered for self-employment: cleaner, hairdresser, handyman, driver, etc. (any specialist who runs their own business as an individual).

Our Romanian and Russian-speaking consultants offer complete guidance with the full accounts and computations included. It is essential to pay the tax obligations timely; otherwise, the penalty for the late submission of the return will be accounted for £100 if it is up to three months late and £200 if the return is over three months late. It is essential to note that the additional penalties apply if the tax return is 6-12 months late.


You can be completely confident that our experts will prepare your tax returns in a timely and efficient manner. We are the most trusted company in the market, offering only affordable solutions for our current and potential clients.

UTR Number

 UTR (Unique Taxpayer Reference) is a unique tax reference number that is received from HMRC. It is a ten-digit number that is specifically unique for you. This number identifies you or your company with HMRC and is a unique taxpayer reference number. 

What is UTR Number?

How does UTR work?

HMRC assigns each self-assessment taxpayer a unique number designed to track their tax records. You will automatically get one when you register for self-assessment or when you set up a limited company. To help you through the complex framework, the Great Way consultants will assist you in getting the UTR Number effectively and quickly.

UTR Number

The Unique Taxpayer Reference usually has ten digits accompanied by the letter "K" at the end. Once you receive your UTR number, it will stay with you the same way the National Insurance Number will identify you for the rest of your life.

Why do you need UTR Number?

There are several circumstances when you might need your UTR number, such as completing your self-assessment tax return and CIS registration. 

Who needs the UTR Number?

You need the UTR number if you submit the self-assessment tax return. This is only applicable if you are:

  • Self-employed 

  • Have set up a limited company 

  • Owe tax on savings, dividends, or capital gains

  • Earn more than £100,000

There are some circumstances where you are required to submit a tax return. Download our guide to get a complete understanding of self-assessment tax returns.

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Common Questions

1. Do I have to pay to apply for a UTR Number?

No, it is free.

2. Where can I find my UTR number?

If you have been issued a UTR number, you can find it on a previous tax return and other documents received from HMRC, such as notice to complete a tax return, payment reminders, or statements of account.

Online form: 

UTR appears on a second page in the "Tell us about you" section below your last name and above your National Insurance Number.

 

Paper form: 

 UTR will appear on the first page, above your National Insurance Number.

3. UTR for Business Partnership

If you have a business partnership, you will have to get the UTR number for your business and each business partner.

 

You will have to submit a company tax return for your firm as well as for your income and expenses.

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4. Why do I need to have a UTR number?

UTR number is used by the HMRC to internally track your tax duties and match your records to your payments. You must note that your self-employment is not proof; it only proves the registration to submit a self-assessment tax return.

5. When will I need my UTR number?

You will need a UTR number to complete your self-assessment tax returns while working on your accounts.

6. How can I reactivate my UTR number?

If you stop submitting your self-assessment tax return, your UTR number will become dormant. To reactivate your UTR, you will need to start submitting tax returns again.

7. If I make a mistake while submitting my UTR number?

If you realize you submitted your return with the wrong UTR, you can contact HMRC by phone or letter to correct your error.

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