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UTR Number
Tax Accountancy

UTR Number (Unique Tax Reference Number)

What is a UTR number?

Unique Tax Reference numbers, more commonly known as UTR’s are 10-digit codes that uniquely identify you or your business. Not everyone has a UTR number, but if you are carrying out self-employed work then you will need to register for one as soon as possible. The 10-digit number will be used by HMRC when dealing with your tax, you will not be able to submit a tax-return or claim a refund without one.
UTR numbers are especially necessary for CIS (construction industry scheme) tax refund registration, without a valid UTR number, your self-assessment tax return won’t be submitted correctly and this can result in a potential fine.

Why do I need a UTR number

The only people who need UTR numbers are those who file Self-Assessment tax returns.
If you do file self-assessment tax returns, you need a UTR number so that:
1. HMRC can monitor your tax obligations
HMRC will use this reference to track your tax obligations, which could help you also get a tax refund if you’ve overpaid your tax.
2. You can file tax returns
You’ll need it for your 2019/2020 self assessment tax return if you’re self employed.
3. You can partner with accountants
Accountants like Rebate My Tax Ltd will need to know your UTR to help with your filings and financial affairs.

 

How do I get my UTR number?

You are automatically sent a UTR number when you register for self-assessment, you should receive the number in the post from HMRC within 3-4 weeks. If you have yet to register for self-assessment and need your UTR number to submit a return, you can use this easy form on our website to apply for one here.

In order to register for your UTR number, you’ll need to provide:
• Your full name
• Your current address
• Your National Insurance Number
• Your date of birth
• Your phone number
• Your email address
• The date that your self-employment began
• The type of business you’re starting
• The address of your business
• The phone number for your business

What happens if I cannot locate my UTR number?

If you have lost your UTR number, you do not need to panic, your UTR should be quoted on any of the following documents listed below from HMRC.
• Your SA250, or your “welcome to self-assessment” letter
• Previous self-assessment tax returns
• Reminders of payment
• Your notice to file a tax return
• Your statement of account
If you do not have any of the above letter’s then you can call HMRC directly and they will again send your UTR number via post.

 

Still can’t find your UTR number?

 

Then visit this HMRC site for more info on how to get your UTR number

 

The importance of registering for a UTR:

If you are working as self-employed and have not notified HMRC – and have therefore not received a UTR number – this can be dangerous. If HMRC find out, you may have to pay a hefty fine and potentially face criminal prosecution, that is why it is important to apply for a UTR number as soon as you carry out any self-employed work. It is also important as your accountant that we have your correct UTR number, as we will use your unique number to track work carried out and claim back the maximum refund for you.
If you require any more information regarding your UTR number please contact us via phone, email or whatsapp.

Need more help with a UTR number?

Get in touch and we can try and help you further. CONTACT US TODAY

 

 

Tax Accountancy

Pay As You Earn (PAYE)

Pay As You Earn (PAYE)

What is PAYE?

For most UK workers, the Pay As You Earn (PAYE) scheme is how they pay the tax they owe on their income. HMRC gives you a tax code, which your employer uses to work out how much tax to take from your pay. They then send that money to HMRC before paying the rest to you. In most cases, you don’t have to do anything about it yourself. However, it’s worth keeping tabs on how much tax is coming out of your pay. It’s possible for your tax code to be wrong, or for you to be owed a refund on some of your work expenses.

Can PAYE workers be entitled to a tax rebate?

Many PAYE workers are missing out on possible tax rebates, there are many reasons why they could be owed tax. This could be from either having the wrong tax code & HMRC taking too much tax or as in many jobs you will often be asked to travel to work at other temporary work places or for training, in those cases then you could be due money back for travel, food or even accommodation costs.

The tax year runs each year from 6th April to the 5th April the following year, so make sure your employment is within these dates for the work you believe you were overtaxed on.

The great thing is you can claim back for the past 4 tax years so if you have not done so before then could be due a good amount back. Please speak to one our tax experts here at Rebate My Tax to find out more information and we can get your claim going as quickly as possible.

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