Your Companies House registration will automatically notify HM Revenue & Customs (HMRC) that you’re now trading as a limited company. That generates a ‘Unique Tax Reference (UTI)’ that will be posted out to you. Keep this safe as you’ll need it every time you contact HMRC!
Once you’ve got your UTI, you need to register for all the various taxes your new business is liable to pay.
- First off, you’ll need to register the business for corporation tax.
- If you’re taking on employees, you’ll have to register as an employer for PAYE (find out more about PAYE here).
- If you’ll be charging VAT on sales you’ll also need to register for VAT (find out more about VAT here).
Your confirmation letters and tax codes will be sent out in the post (HMRC’s still not quite as digital as it might be), but you can then set up an HMRC portal to view and maintain your tax online (make sure you write down your user name and password somewhere very safe as it’s extremely tricky to reset if you forget your log-in!
If you’d like help with your HMRC registration, give us a call on 01454 300 999 or drop an email to firstname.lastname@example.org