{"id":183876,"date":"2023-11-16T04:55:31","date_gmt":"2023-11-16T04:55:31","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=183876"},"modified":"2023-11-23T01:23:20","modified_gmt":"2023-11-23T01:23:20","slug":"hmrc-registration","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/","title":{"rendered":"Five Tips on Registering Your New Business With HMRC"},"content":{"rendered":"\n<p>Starting a new business in the UK is an exciting and challenging endeavour. One of the steps during this journey is registering your business with His Majesty\u2019s Revenue and Customs (HMRC). This crucial step makes your business legally compliant and ensures you meet your tax obligations. This article outlines five essential tips on registering your new business with HMRC so you can navigate this process smoothly.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Choose the Right Business Structure<\/h2>\n\n\n\n<p>Before you dive into the registration process, you must decide on the most appropriate business structure for your venture. Your chosen structure will determine:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>your tax liabilities;<\/li>\n\n\n\n<li>your legal responsibilities; and&nbsp;<\/li>\n\n\n\n<li>how you operate your business.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>In the UK, there are several business structures to consider. The most common are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/legalvision.co.uk\/startups\/benefits-sole-trader\/\">sole traderships<\/a>;<\/li>\n\n\n\n<li>limited companies; and&nbsp;<\/li>\n\n\n\n<li>traditional partnerships.<\/li>\n<\/ul>\n\n\n\n<p>A sole trader is the simplest form of business ownership. You run the business individually and are solely responsible for its finances and liabilities. Registering as a sole trader with HMRC is relatively straightforward. You must inform HMRC that you are self-employed and complete a self-assessment tax return.<\/p>\n\n\n\n<p>A limited company is a separate legal entity from its owners. This structure offers limited liability, meaning your personal assets are generally protected if the company incurs debts or legal issues. However, registering a limited company with HMRC is more complex. This involves incorporating your company with Companies House and registering for Corporation Tax with HMRC.<\/p>\n\n\n\n<p>Finally, if you are starting a UK business with one or more partners, you can register as a partnership (or a limited liability partnership). In this structure, the partners share business profits and responsibilities. You must register partnerships with HMRC, and each partner must complete a self-assessment tax return.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-provider-youtube wp-block-embed-youtube\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"[UK] 5 Essential Contracts for Your Business | LegalVision\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/YNborIxpZwo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">2. Get Your Unique Taxpayer Reference (UTR)<\/h2>\n\n\n\n<p>Once you have determined your business structure, the next step is to obtain your Unique Taxpayer Reference (UTR). A UTR is a ten-digit number HMRC assigns to identify you and your business for tax purposes. This reference is unique to you and should be used in all communications with HMRC.<\/p>\n\n\n\n<p>If you are a sole trader, you should automatically receive your UTR when registering as self-employed. HMRC should send you a letter containing this reference within a few weeks.<\/p>\n\n\n\n<p>If you are starting a limited company, HMRC will be notified after you incorporate your company with Companies House, and HMRC will then send you your UTR by post.<\/p>\n\n\n\n<p>Your UTR is critical information, so keep it safe and readily accessible. You will need it to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>file taxes;<\/li>\n\n\n\n<li>open a business bank account; and&nbsp;<\/li>\n\n\n\n<li>other official business matters.<\/li>\n<\/ul>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of gform.initializeOnLoaded() is deprecated in the form editor context and will be removed in Gravity Forms 3.1.\"),o(),0))},initializeOnLoaded:function(o){gform.callIfLoaded(o)||(document.addEventListener(\"gform_main_scripts_loaded\",()=>{gform.scriptsLoaded=!0,gform.callIfLoaded(o)}),document.addEventListener(\"gform\/theme\/scripts_loaded\",()=>{gform.themeScriptsLoaded=!0,gform.callIfLoaded(o)}),window.addEventListener(\"DOMContentLoaded\",()=>{gform.domLoaded=!0,gform.callIfLoaded(o)}))},hooks:{action:{},filter:{}},addAction:function(o,r,e,t){gform.addHook(\"action\",o,r,e,t)},addFilter:function(o,r,e,t){gform.addHook(\"filter\",o,r,e,t)},doAction:function(o){gform.doHook(\"action\",o,arguments)},applyFilters:function(o){return gform.doHook(\"filter\",o,arguments)},removeAction:function(o,r){gform.removeHook(\"action\",o,r)},removeFilter:function(o,r,e){gform.removeHook(\"filter\",o,r,e)},addHook:function(o,r,e,t,n){null==gform.hooks[o][r]&&(gform.hooks[o][r]=[]);var d=gform.hooks[o][r];null==n&&(n=r+\"_\"+d.length),gform.hooks[o][r].push({tag:n,callable:e,priority:t=null==t?10:t})},doHook:function(r,o,e){var t;if(e=Array.prototype.slice.call(e,1),null!=gform.hooks[r][o]&&((o=gform.hooks[r][o]).sort(function(o,r){return o.priority-r.priority}),o.forEach(function(o){\"function\"!=typeof(t=o.callable)&&(t=window[t]),\"action\"==r?t.apply(null,e):e[0]=t.apply(null,e)})),\"filter\"==r)return e[0]},removeHook:function(o,r,t,n){var e;null!=gform.hooks[o][r]&&(e=(e=gform.hooks[o][r]).filter(function(o,r,e){return!!(null!=n&&n!=o.tag||null!=t&&t!=o.priority)}),gform.hooks[o][r]=e)}});\n<\/script>\n\n                <div class='gf_browser_gecko gform_wrapper gravity-theme gform-theme--no-framework lawyer-form_wrapper gplaceholder_wrapper form-with-labels-no-asterisks_wrapper has-new-validation-error-styling_wrapper' data-form-theme='gravity-theme' data-form-index='0' id='gform_wrapper_2453' style='display:none'><div id='gf_2453' class='gform_anchor' tabindex='-1'><\/div><form method='post' enctype='multipart\/form-data' target='gform_ajax_frame_2453' id='gform_2453' class='lawyer-form gplaceholder form-with-labels-no-asterisks has-new-validation-error-styling' action='\/api\/wp\/v2\/posts\/183876#gf_2453' data-formid='2453' novalidate>\n                        <div class='gform-body gform_body'><div id='gform_fields_2453' class='gform_fields top_label form_sublabel_below description_below validation_below'><div id=\"field_2453_1000\" class=\"gfield gfield--type-honeypot gform_validation_container field_sublabel_below gfield--has-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_1000'>Comments<\/label><div class='ginput_container'><input name='input_1000' id='input_2453_1000' type='text' value='' autocomplete='new-password'\/><\/div><div class='gfield_description' id='gfield_description_2453_1000'>This field is for validation purposes and should be left unchanged.<\/div><\/div><div id=\"field_2453_1\" class=\"gfield gfield--type-text gfield--input-type-text gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_1'>First Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_1' id='input_2453_1' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_12\" class=\"gfield gfield--type-text gfield--input-type-text gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_12'>Last Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_12' id='input_2453_12' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_2\" class=\"gfield gfield--type-email gfield--input-type-email gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_2'>Email Address<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_email'>\n                            <input name='input_2' id='input_2453_2' type='email' value='' class='medium'    aria-required=\"true\" aria-invalid=\"false\"  \/>\n                        <\/div><\/div><div id=\"field_2453_3\" class=\"gfield gfield--type-phone gfield--input-type-phone gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_3'>Phone<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_phone'><input name='input_3' id='input_2453_3' type='tel' value='' class='medium'   aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2453_14\" class=\"gfield gfield--type-select gfield--input-type-select gfield--width-full custom-select gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_14'>Number of Employees in Your Business<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_select'><select name='input_14' id='input_2453_14' class='large gfield_select'    aria-required=\"true\" aria-invalid=\"false\" ><option value='' selected='selected'>Select ...<\/option><option value='0' >0<\/option><option value='1' >1-5<\/option><option value='6' >6-20<\/option><option value='21' >21-50<\/option><option value='51' >51-250<\/option><option value='250' >250+<\/option><\/select><\/div><\/div><div id=\"field_2453_4\" class=\"gfield gfield--type-textarea gfield--input-type-textarea gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2453_4'>Tell us about your enquiry<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_4' id='input_2453_4' class='textarea medium'     aria-required=\"true\" aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_2453_5\" class=\"gfield gfield--type-html gfield--input-type-html gfield_html gfield_html_formatted gfield_no_follows_desc field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  >By submitting this form, you agree to receive emails from LegalVision and can unsubscribe at any time. View our <a href=\"https:\/\/legalvision.co.uk\/privacy-notice\/\" target=\"_blank\">Privacy Policy<\/a>. <\/div><div id=\"field_2453_8\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_8' id='input_2453_8' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='http:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/183876' \/><\/div><\/div><div id=\"field_2453_13\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_13' id='input_2453_13' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='generic_form' \/><\/div><\/div><fieldset id=\"field_2453_999\" class=\"gfield gfield--type-checkbox gfield--type-choice gfield__uk-marketo-opt-in field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><legend class='gfield_label gform-field-label screen-reader-text' ><\/legend><div class='ginput_container ginput_container_checkbox'><div class='gfield_checkbox ' id='input_2453_999'><div class='gchoice gchoice_2453_999_1'>\n\t\t\t\t\t\t\t\t<input class='gfield-choice-input' name='input_999.1' type='checkbox'  value='1'  id='choice_2453_999_1'   \/>\n\t\t\t\t\t\t\t\t<label for='choice_2453_999_1' id='label_2453_999_1' class='gform-field-label gform-field-label--type-inline'>By submitting this form, you agree to receive content and event invitations from us to help you grow your business. If you do not want to receive such messages, tick here.<\/label>\n\t\t\t\t\t\t\t<\/div><\/div><\/div><\/fieldset><\/div><\/div>\n        <div class='gform-footer gform_footer top_label'> <button type=\"submit\" id=\"gform_submit_button_2453\" class=\"gform_button button\" onclick=\"gform.submission.handleButtonClick(this);\" data-submission-type=\"submit\"><span class=\"gform_submit_button__text\">Submit Now<\/span><\/button> <input type='hidden' name='gform_ajax' value='form_id=2453&amp;title=&amp;description=&amp;tabindex=0&amp;theme=gravity-theme&amp;hash=ec2463697d0d9cef7b71236ae60964c7' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submission_method' data-js='gform_submission_method_2453' value='iframe' \/>\n            <input type='hidden' class='gform_hidden' name='gform_theme' data-js='gform_theme_2453' id='gform_theme_2453' value='gravity-theme' \/>\n            <input type='hidden' class='gform_hidden' name='gform_style_settings' data-js='gform_style_settings_2453' id='gform_style_settings_2453' value='' \/>\n            <input type='hidden' class='gform_hidden' name='is_submit_2453' value='1' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submit' value='2453' \/>\n            \n            <input type='hidden' class='gform_hidden' name='gform_currency' data-currency='GBP' value='QMfq90p+uKFoSZQMZBw4rN8IDqwBZUAKxTr2zfhjwfxrGa6nyS4EMG7PS9ODfPghW\/j80kVj508COfv24ArAa20j0WLKqG\/tkT2cWyR3gwH+Rpo=' \/>\n            <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' \/>\n            <input type='hidden' class='gform_hidden' name='state_2453' value='WyJ7XCIxNFwiOltcIjIyODY0N2ViMWU3NTcxZjA4YTY4NGJmMDcwMTk3Y2I0XCIsXCJiMzk3YmQ1MDBmMmFjNjk1ODE4MzdmNTBhYTA2MzQ0OFwiLFwiNGYyNGZkZGEwMzlkNDUxMWFhZGE1NGYwZmQwZmNiZTdcIixcIjUyMmJkMDE2M2I2ZmEwOTI3NDZhZjU5YTg0ZmM1NDk5XCIsXCIzODRlNjk1YjQxMTAzMWFiYmQ2ODEyMGYyZWFhMDYyNlwiLFwiYjkzNDcwNTE2MjkxOGRjZWViMjQzNzRjNmE0NGVmNTlcIixcIjQxMTliODZhMzVjYzJiMWViNDZiMmQ4NjRlNGUzZmNjXCJdfSIsIjQ3MjNiMzA2ZDIyZGVkODA2N2YyMjYyOThkYzI1ODVmIl0=' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_target_page_number_2453' id='gform_target_page_number_2453' value='0' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_source_page_number_2453' id='gform_source_page_number_2453' value='1' \/>\n            <input type='hidden' name='gform_field_values' value='' \/>\n            \n        <\/div>\n                        <\/form>\n                        <\/div>\n\t\t                <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_2453' id='gform_ajax_frame_2453' title='This iframe contains the logic required to handle Ajax powered Gravity Forms.'><\/iframe>\n\t\t                <script>\ngform.initializeOnLoaded( function() {gformInitSpinner( 2453, 'https:\/\/legalvision.co.uk\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery('#gform_ajax_frame_2453').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_2453');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_2453').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){form_content.find('form').css('opacity', 0);jQuery('#gform_wrapper_2453').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_2453').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_2453').removeClass('gform_validation_error');}setTimeout( function() { \/* delay the scroll by 50 milliseconds to fix a bug in chrome *\/ jQuery(document).scrollTop(jQuery('#gform_wrapper_2453').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_2453').val();gformInitSpinner( 2453, 'https:\/\/legalvision.co.uk\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [2453, current_page]);window['gf_submitting_2453'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}jQuery('#gform_wrapper_2453').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_2453').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [2453]);window['gf_submitting_2453'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_2453').text());}else{jQuery('#gform_2453').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger(\"gform_pre_post_render\", [{ formId: \"2453\", currentPage: \"current_page\", abort: function() { this.preventDefault(); } }]);        if (event && event.defaultPrevented) {                return;        }        const gformWrapperDiv = document.getElementById( \"gform_wrapper_2453\" );        if ( gformWrapperDiv ) {            const visibilitySpan = document.createElement( \"span\" );            visibilitySpan.id = \"gform_visibility_test_2453\";            gformWrapperDiv.insertAdjacentElement( \"afterend\", visibilitySpan );        }        const visibilityTestDiv = document.getElementById( \"gform_visibility_test_2453\" );        let postRenderFired = false;        function triggerPostRender() {            if ( postRenderFired ) {                return;            }            postRenderFired = true;            gform.core.triggerPostRenderEvents( 2453, current_page );            if ( visibilityTestDiv ) {                visibilityTestDiv.parentNode.removeChild( visibilityTestDiv );            }        }        function debounce( func, wait, immediate ) {            var timeout;            return function() {                var context = this, args = arguments;                var later = function() {                    timeout = null;                    if ( !immediate ) func.apply( context, args );                };                var callNow = immediate && !timeout;                clearTimeout( timeout );                timeout = setTimeout( later, wait );                if ( callNow ) func.apply( context, args );            };        }        const debouncedTriggerPostRender = debounce( function() {            triggerPostRender();        }, 200 );        if ( visibilityTestDiv && visibilityTestDiv.offsetParent === null ) {            const observer = new MutationObserver( ( mutations ) => {                mutations.forEach( ( mutation ) => {                    if ( mutation.type === 'attributes' && visibilityTestDiv.offsetParent !== null ) {                        debouncedTriggerPostRender();                        observer.disconnect();                    }                });            });            observer.observe( document.body, {                attributes: true,                childList: false,                subtree: true,                attributeFilter: [ 'style', 'class' ],            });        } else {            triggerPostRender();        }    } );} );\n<\/script>\n<\/div>\n<\/div>\n<div id=\"content-next\"><!-- scroll anchor --><\/div>\n<h2 class=\"wp-block-heading\">3. Register for the Right Taxes<\/h2>\n\n\n\n<p>The UK tax system can be complex, and the taxes you must register for depend on your business structure and activities. For example, sole traders must complete an annual self-assessment tax return. This form reports your income and expenses and helps calculate the tax you owe.<\/p>\n\n\n\n<p>Limited companies are subject to Corporation Tax on their profits, and will be deducted appropriately. If your business hires employees, you must operate a Pay As You Earn (PAYE) scheme for payroll and income tax deductions. Registering for PAYE is essential to ensure your employees\u2019 taxes are correctly withheld.<\/p>\n\n\n\n<p>Finally, sole traders and limited company directors must pay National Insurance contributions, which fund state benefits, including the state pension.<\/p>\n\n\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2022\/09\/06164254\/uk-startup-manual-290x410-1.jpg\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">UK Startup Manual<\/div>\n            <div class=\"body-text\">\n                <p>LegalVision&#8217;s Startup Manual is essential reading material for any startup founder looking to launch and grow a successful startup.<\/p>\n            <\/div>\n            \n\n<a href=\"https:\/\/go.legalvision.co.uk\/uk-startup-manual.html\" class=\" block px-5 py-3.5 max-w-fit bg-orange button__hover transition rounded text-white font-bold text-lg no-underline uppercase leading-tight text-center\" target=\"\" rel=\"\">Download Now<\/a>        <\/section>\n    <\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">4. Keep Accurate Records<\/h2>\n\n\n\n<p>Proper record-keeping is fundamental to maintaining your financial and tax affairs. HMRC requires you to keep records of all your income, expenses, and other financial transactions.<\/p>\n\n\n\n<p>Most UK businesses use accounting software to track income and expenses. Many software options are available. Accordingly, this makes it easier to manage your finances and generate accurate reports.<\/p>\n\n\n\n<p>Keeping copies of all invoices, receipts, and bank statements is essential. This documentation serves as evidence for your financial transactions. If managing your finances seems overwhelming, consider hiring an accountant. They can help you maintain accurate records and ensure compliance with HMRC\u2019s requirements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Comply with HMRC Deadlines<\/h2>\n\n\n\n<p>HMRC imposes various deadlines for tax returns, payments, and other important submissions. Failing to meet these deadlines can result in penalties and interest charges.<\/p>\n\n\n\n<p>For example, corporation tax payments are due nine months and one day after the end of your accounting period. You should file corporation tax returns within twelve months of the end of the account period.<\/p>\n\n\n\n<p>You should also ensure that your business\u2019 <a href=\"https:\/\/legalvision.co.uk\/employment\/paye-scheme\/\">PAYE<\/a> submissions and payments are made on time, usually monthly or quarterly.\u00a0\u00a0<\/p>\n\n\n\n<div  class=\"box box--icon box--warning\">\n    <p>HMRC takes deadlines seriously. Accordingly, setting reminders and establishing routines for meeting your obligations is crucial. Missing deadlines can lead to unnecessary financial stress and potential legal consequences.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n\n\n\n<p>Registering your new business with HMRC is vital in establishing a legally compliant and financially responsible enterprise. Alongside obtaining suitable legal advice, consideration of these tips can help contribute to your business&#8217; long-term success and sustainability, allowing you to focus on the long-term success of your UK business.<\/p>\n\n\n\n<p>If you need legal assistance registering your new UK business with HMRC, our experienced <a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase-lawyers-lp\/\">business sale lawyers<\/a> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our <a href=\"https:\/\/legalvision.co.uk\/membership\/\">membership page<\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starting a new business in the UK is an exciting and challenging endeavour. One of the steps during this journey is registering your business with His Majesty\u2019s Revenue and Customs (HMRC). This crucial step makes your business legally compliant and ensures you meet your tax obligations. This article outlines five essential tips on registering your<a href=\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\">Continue reading <span class=\"sr-only\">&#8220;Five Tips on Registering Your New Business With HMRC&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13349,"featured_media":183584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"2350,182075,182625,172762,825,179112","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[31],"tags":[20,21,338,860,989],"class_list":["post-183876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-small-business","tag-medium-business","tag-hmrc","tag-startups","tag-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>5 Tips for Registering Your Business With HMRC | LegalVision UK<\/title>\n<meta name=\"description\" content=\"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Tips for Registering Your Business With HMRC | LegalVision UK\" \/>\n<meta property=\"og:description\" content=\"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\" \/>\n<meta property=\"og:site_name\" content=\"LegalVision UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LegalVision\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-16T04:55:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-23T01:23:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1710\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Thomas Sutherland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:site\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Thomas Sutherland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\"},\"author\":{\"name\":\"Thomas Sutherland\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\"},\"headline\":\"Five Tips on Registering Your New Business With HMRC\",\"datePublished\":\"2023-11-16T04:55:31+00:00\",\"dateModified\":\"2023-11-23T01:23:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\"},\"wordCount\":860,\"image\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg\",\"keywords\":[\"small business\",\"medium business\",\"hmrc\",\"startups\",\"tax\"],\"articleSection\":[\"Startup Articles\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\",\"url\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\",\"name\":\"5 Tips for Registering Your Business With HMRC | LegalVision UK\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg\",\"datePublished\":\"2023-11-16T04:55:31+00:00\",\"dateModified\":\"2023-11-23T01:23:20+00:00\",\"author\":{\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\"},\"description\":\"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.\",\"breadcrumb\":{\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage\",\"url\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg\",\"contentUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg\",\"width\":2560,\"height\":1710,\"caption\":\"What Are the Legal Requirements When Beginning Franchising? | LegalVision UK\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/legalvision.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Startup Articles\",\"item\":\"https:\/\/legalvision.co.uk\/category\/startups\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Five Tips on Registering Your New Business With HMRC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/legalvision.co.uk\/#website\",\"url\":\"https:\/\/legalvision.co.uk\/\",\"name\":\"LegalVision UK\",\"description\":\"LegalVision is a commercial law firm in the UK with a commitment to innovation\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/legalvision.co.uk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2\",\"name\":\"Thomas Sutherland\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/legalvision.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg\",\"contentUrl\":\"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg\",\"caption\":\"Thomas Sutherland\"},\"description\":\"Tom is an Expert Legal Contributor for LegalVision. He has particular expertise in Commercial and Employment litigation, as well as data protection and privacy regulations. He is a qualified Solicitor in England and Wales and has a decade of legal experience, including advocacy within civil courts and Tribunals. Tom specialises in civil and employment litigation. He has extensive experience in advising employers and companies as to the requirements of employment law and data protection rules, as well as day-to-day advice on smooth running from a commercial perspective. Qualifications: Professional Skills Course - Law, University of Law; Legal Practice Course - Law, College of Law; Bachelor of Laws, University of Southampton.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/tom-sutherland-72b4509b\/\"],\"url\":\"https:\/\/legalvision.co.uk\/author\/thomassutherland\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"5 Tips for Registering Your Business With HMRC | LegalVision UK","description":"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/","og_locale":"en_GB","og_type":"article","og_title":"5 Tips for Registering Your Business With HMRC | LegalVision UK","og_description":"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.","og_url":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/","og_site_name":"LegalVision UK","article_publisher":"https:\/\/www.facebook.com\/LegalVision","article_published_time":"2023-11-16T04:55:31+00:00","article_modified_time":"2023-11-23T01:23:20+00:00","og_image":[{"width":2560,"height":1710,"url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg","type":"image\/jpeg"}],"author":"Thomas Sutherland","twitter_card":"summary_large_image","twitter_creator":"@LegalVision_law","twitter_site":"@LegalVision_law","twitter_misc":{"Written by":"Thomas Sutherland","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#article","isPartOf":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/"},"author":{"name":"Thomas Sutherland","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2"},"headline":"Five Tips on Registering Your New Business With HMRC","datePublished":"2023-11-16T04:55:31+00:00","dateModified":"2023-11-23T01:23:20+00:00","mainEntityOfPage":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/"},"wordCount":860,"image":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg","keywords":["small business","medium business","hmrc","startups","tax"],"articleSection":["Startup Articles"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/","url":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/","name":"5 Tips for Registering Your Business With HMRC | LegalVision UK","isPartOf":{"@id":"https:\/\/legalvision.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage"},"image":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg","datePublished":"2023-11-16T04:55:31+00:00","dateModified":"2023-11-23T01:23:20+00:00","author":{"@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2"},"description":"This article will explore five tips for registering your new business with HMRC in the UK so you can navigate the process smoothly.","breadcrumb":{"@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#primaryimage","url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg","contentUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2023\/10\/26041622\/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg","width":2560,"height":1710,"caption":"What Are the Legal Requirements When Beginning Franchising? | LegalVision UK"},{"@type":"BreadcrumbList","@id":"https:\/\/legalvision.co.uk\/startups\/hmrc-registration\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/legalvision.co.uk\/"},{"@type":"ListItem","position":2,"name":"Startup Articles","item":"https:\/\/legalvision.co.uk\/category\/startups\/"},{"@type":"ListItem","position":3,"name":"Five Tips on Registering Your New Business With HMRC"}]},{"@type":"WebSite","@id":"https:\/\/legalvision.co.uk\/#website","url":"https:\/\/legalvision.co.uk\/","name":"LegalVision UK","description":"LegalVision is a commercial law firm in the UK with a commitment to innovation","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/legalvision.co.uk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/46d22f7d1b4ba321fe5b1cdc648cc5d2","name":"Thomas Sutherland","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/legalvision.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg","contentUrl":"https:\/\/legalvision.co.uk\/wp-content\/uploads\/sites\/4\/2022\/05\/cropped-Thomas-Sutherland-96x96.jpg","caption":"Thomas Sutherland"},"description":"Tom is an Expert Legal Contributor for LegalVision. He has particular expertise in Commercial and Employment litigation, as well as data protection and privacy regulations. He is a qualified Solicitor in England and Wales and has a decade of legal experience, including advocacy within civil courts and Tribunals. Tom specialises in civil and employment litigation. He has extensive experience in advising employers and companies as to the requirements of employment law and data protection rules, as well as day-to-day advice on smooth running from a commercial perspective. Qualifications: Professional Skills Course - Law, University of Law; Legal Practice Course - Law, College of Law; Bachelor of Laws, University of Southampton.","sameAs":["https:\/\/www.linkedin.com\/in\/tom-sutherland-72b4509b\/"],"url":"https:\/\/legalvision.co.uk\/author\/thomassutherland\/"}]}},"_links":{"self":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/183876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/users\/13349"}],"replies":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/comments?post=183876"}],"version-history":[{"count":7,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/183876\/revisions"}],"predecessor-version":[{"id":184132,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/posts\/183876\/revisions\/184132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media\/183584"}],"wp:attachment":[{"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/media?parent=183876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/categories?post=183876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalvision.co.uk\/api\/wp\/v2\/tags?post=183876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}