If you’ve recently registered your new limited business with Companies House – congratulations! The next step of the process is ensuring everything is set up ready for the company to pay Corporation Tax. Thankfully, you don’t have to do anything right away – HMRC will send a CT41G form explaining what you need to do next, along with your new company’s UTR number (Unique Taxpayer Reference number – this identifies your company’s tax records).

We explain what a CT41G form is in detail, so you’re prepared when it’s popped through your letter box.

Once you’ve incorporated your business with Companies House, they’ll automatically inform HMRC. Within a few weeks, you’ll receive a letter from them with a CT41G form. The form includes information such as:

• Your company’s Unique Tax Reference number (more commonly known as your UTR number)
• Instructions on how to set up your company’s HMRC online account, so you can submit a Company Tax Return and pay Corporation Tax when the time comes
• A request for any additional details you need to give HMRC regarding your company
• The deadline for filing your first Company Tax Return

UTR number stands for Unique Tax Reference number. You’ll reference it every time you contact HMRC about your company, and all of your business’s tax information with be stored against it. It’s uniquely yours (hence the name) so it helps HMRC identify your business straight away.

It’s important to note that you may have two UTR numbers. One for your newly incorporated limited company, and another separate one which you might need to apply for if you need to submit a Self Assessment tax return as a company director. It’s fairly easy to differentiate between the two:

• Your company UTR begins with three numbers, then a 10-digit reference with the letter ‘A’ to finish
• Your personal UTR is a 10-digit number followed by the letter ‘K’

It’ll arrive within 3 weeks of incorporating your business, and will be sent to the registered company address – so keep your eyes peeled!

If you don’t receive your CT41G form within 2 months, contact HMRC!

It must be completed within three months of your business starting to trade, even if your company is now dormant (so HMRC know you don’t intend to trade).
 

Once you receive your CT41G form, you’ll need to provide various details, including:

• Your company’s full name and registration number
• The date your business began trading
• The date your company accounts are made up to
• The type of business activities your business will carry out
• Your main trading address where day to day operations are carried out

You can complete your CT41G form either online or by post (although HMRC do tend to prefer things done online). This involves creating a Government Gateway account to fill out your details – your CT41G form will include instructions on how to do this.

You’ll also need to confirm whether you plan to appoint an agent to act on your behalf and handle your tax affairs – usually an accountant or other advisor. When you appoint one, you’re giving that person permission to speak to HMRC regarding your taxes. They’ll also be able to file your accounts and returns – as well as receive a copy of any post HMRC have sent to you.

If you’re a new business, you might not have found an accountant yet, but wish to use one. You can always appoint an agent further down the line, once you’ve found someone suitable.

Your accountant can absolutely assist you in completing your CT41G form. If you don’t have one yet, you can look for one before filling your form in (providing you still have plenty of time to submit your details to HMRC).

 
Need help setting up your limited company? Call us on 020 3355 4047 to chat to the team and get an instant online quote.