A Unique Taxpayer Reference (UTR) number is a ten-digit code issued by HMRC. It uniquely identifies individuals and businesses who need to register for Self Assessment or set up a limited company. If you’re self-employed, a sole trader, or run a business, you will need a UTR number fo...
You cannot apply for a grant of probate until this is completed. For property, Inheritance Tax can be worked out once a valuation is complete. Every estate will have a tax-free allowance, meaning Inheritance Tax isn’t liable under a certain threshold. The threshold set by HMRC is currently...
Incorrectly addressed invoices are likely to be rejected by HMRC when submitted as outgoings in a tax return. Description of service Including a description of the goods or services delivered on the invoice is a good idea. For complex services, you can break down the costs presented on the ...
After forming an SPV, registration for corporation tax with HMRC within three months is necessary to ensure all tax-related benefits are leveraged. Capital raising SPVs attract independent equity investors, fund managers, and venture capitalists to support investment in high-risk assets without affectin...
HMRC has rules about what is and isn’t deductible. 2. Direct costs vs indirect costsDirect costs are amounts spent specifically on producing goods or services for sale Indirect costs are all the other background costs of running a business...
A self-invested personal pension (SIPP) is a tax-efficient retirement savings account available in the U.K. SIPPs give individuals the freedom to allocate their assets in a widerange of investmentsapproved by the country’sHer Majesty’s Revenue and Customs(HMRC), a non-ministerial department ...
What is an ISA? ISA stands for Individual Savings Account. It’s basically just a type of account where you can save or invest your money, the same as a normal savings account or general investment account – but with one big difference. ...
(UTR) is an alphanumeric code used in banking and financial services to identify and track individual financial transactions, ensuring each transaction is distinct. In contrast, a Unique Taxpayer Reference (UTR) is a ten-digit number assigned by tax authorities, such as HMRC in the UK, to ...
the type of business you form part of Be sure to have all this info on hand when you apply so you can avoid delays. It's also a good idea to check that you've filled in your application fully and correctly before you submit it. If anything is missing or incorrect, HMRC will ask ...
The application to strike-off a company from the Companies Register can be rejected if the company is found to have outstanding debts. In this case any debts must be settled before the company dissolution can be actioned, or if the company is insolvent t