What Is A UTR Code?

Big Questions! What Is A UTR, Who Needs One And When Will You Need It?

If you’re setting up your limited company or starting out as self-employed, you’ll come across the initials UTR. But what do they mean?

UTR stands for Unique Taxpayer Reference, and each is a ten-digit number unique to the individual or organization it’s given to. If you’re submitting your self-assessment tax returns, it’s this number you’ll use to make sure it’s filed for the correct person, you!

If you start a limited company, another UTR will be assigned, that’s because the company is its own legal entity and pays separate tax as a corporation i.e. it is a unique taxpayer itself. Sounds confusing, but it’s not really. If you’re the director of a limited company you’ll have two UTRs to keep a record of, one for you personally and one for the company for its tax obligations.

You’ll receive your UTR once you register for self-assessment as an individual, or registering a limited company for corporation tax. Once you receive it, it’s yours for life (or the life of your company).

Need more advice on how to use, apply for or find your UTR? Contact us today and we will happily answer any questions you may have about UTR Codes.