Countries use the Tax Identification Number (TIN) for a variety of things including identification and tax purposes. In most countries like the United Kingdom, this number is also used to identify taxpayers. It is important to note though that there are differences in the TIN and its usage in each country.
In the UK, this number is referred to as the unique taxpayer reference (UTR). People are also given the National Insurance number (which is also known as the NI). For companies, they use Corporation Tax numbers given to them by the government.
How are the UTR and the NI numbers used?
The UTR is actually used by the HMRC to monitor all of the taxpayers in the country. This number is actually a unique code which is used by the HMRC to know if the code belongs to a company or to a taxpayer. It comes with 10 digits and may have the letter “K” right at the very end.
The NI number is the account number of people. Each person has an NI number that is unique to them. Only one NI number is given to each individual and this is what an individual will use his or her entire life. The number will be helpful in keeping track of all the taxes and contributions that a person has paid. It will also help in properly recording these.
Where can the UTR be found?
A person can go to the Government Gateway and login using their login information. Once successful in doing so, a person can see their UTR. This account is online and it is set up by each person when they register for self-employment under the HMRC.
It is important to note that the account does not only contain the UTR. An individual can also find other important information there like tax returns, any correspondences with the HMRC, as well as reminders sent by the HMRC.
The UTR can be found under the Self Assessment section once logged in. Another way to find the UTR would be to go to the account summary which is located at the top right corner of the same site.
Correspondences that are sent by the HMRC also include the UTR. It is also on the Tax Return which is sent by the HMRC, as well as on the Statement of Account sent by the same agency. This number is also found on letters for late payments as well as payment reminders. It is also found on the SA250, a letter sent by the HMRC to an individual when they register for the first time as self-employed.
The UTR number is an important piece of information and a requirement for individuals in the United Kingdom who are self-employed. It allows them to check on their taxes and if they paid right. Self-employed individuals can get a lot of help on how to register for a UTR as well as get help on registered addresses which are also a requirement from companies like Company Address.
published under Tax and Legislation Guides
