TAX NAVIGATOR

Every year, hundreds of thousands if not millions of people and companies file their tax returns in the UK as part of their legal obligations. A self-assessment tax return is a necessary part of life, whether you represent a trust, a limited company, you’re part of a partnership, a sole trader or an individual. In each of these cases, a UTR number is required. But what is a UTR and how can you get one if you haven’t done so already? We answer these questions and more here. Keep reading to find out.

Starting or joining a limited company can indeed be a very exciting time in your life. As a limited company director, you can enjoy a number of benefits. Some of these include the fact that your bills, debts and obligations are separate from the company’s ones. Therefore, if any judicial proceedings take place against the company, you are personally exempt from making any payments towards things such as debts and this offers directors quite a big sense of security in the business world. In addition to the above, your personal property will not be able to be used to set off debts and you can rest assured that this movable or immovable property will remain yours even if the company goes under. But have you ever asked yourself what kind of characteristics a director of a limited company needs to have? In this article, we clarify who can be a company director so that you know where you stand and have a better understanding of your position.

Making Tax Digital for VAT is a government initiative that was introduced in 2019 with the aim of streamlining the VAT returns and registration process, making it digital and thereby easier for millions of business owners across the country. But if MTD for VAT is something you’re not familiar with and you’d like to explore further, we take a look at some of the requirements and prerequisites for when you sign up to Making Tax Digital.