What UK Businesses Need to Know About Identity Verification for People and Companies in 2025
What UK Businesses Need to Know About Identity Verification for People and Companies in 2025 Table of Contents Why the change is happening Who needs to verify When do you need to verify? How the process works 1. One Login for GOV.UK 2. Authorised Corporate Service Provider (ACSP) Your Companies House personal code The risks of not verifying Preparing early makes sense How Taxaccolega can help Final thoughts Big and new reforms are being introduced for people who run businesses in the UK. Starting on November 18, 2025, company directors, people with significant control (PSCs), and other key personnel’s are required to prove their identity under new rules from companies house. This change which is one of the biggest changes Companies House has ever made is brought by the Economic Crime and Corporate Transparency Act 2023. The main objective of the rule is to make the business world safer. For years, fake businesses and fraud have made people less likely to trust the register. This issue will be resolved by Identity verification which will make sure that the people who run businesses in the UK are who they say they are. This is good news for real businesses because it means more openness, less risk, and more trustworthiness. But it also means more work, and every director or PSC needs to be ready. Taxaccolega has already been helping people in London, Croydon, and the rest of the UK get ready for the change. Here’s a list of what’s going on, who it affects, and how to make sure everyone follows the rules. Why the change is happening Up until now, it was easy for someone to start a business without having to show much proof of who they were. That gap made it possible for companies to be used for money laundering, hiding assets, or running illegal businesses. The new UK identity verification system will help fill in those gaps. The register will become more reliable as it requires directors, PSCs, and even corporate service providers to show who they are. The threefold aim is to: ● Check that people are who they say they are to lower the risk of fraud. ● Improve transparency for the businesses, investors, and regulators to trust the Companies House register. ● Increase compliance with global best practices and rules against money laundering. To put it simply, the law is about making the business world safer while keeping the UK a good place for real trade and investment. Who needs to verify Not everyone who works for a business will need to verify, but a lot of them will have to. You will need to verify if you are a director, a PSC, a managing officer, or a company secretary who files for a company. Accountants and lawyers who are Authorised Corporate Service Providers (ACSPs) must also check if they are going to work for clients. Accountants and lawyers must register as Authorised Corporate Service Providers (ACSPs) with Companies House and an AML supervisor before verifying others on behalf of clients. These are the people who need to use ID verification services: ● Directors of the company, both new and old. ● People with significant control (PSCs) are those who own at least 25% of the shares, have voting rights, or have an impact. ● Managing officers, LLP members, and general partners all have the same job. ● Authorised Corporate Service Providers (ACSPs) are accountants, lawyers, and other professionals who work for businesses. When do you need to verify? It depends on what job you have. ● Starting on November 18, 2025, new directors will be: You must check before you hire someone or start a business. From November 18, 2025, new directors must verify their identity before their appointment is submitted to Companies House. ● Directors who are already in place: You must check by the date of your next confirmation statement, which is 12 months after November 18, 2025. ● New PSCs: You have 14 days to confirm after you get the notice. New PSCs who are individuals must verify within 14 days of being added to the register. Corporate PSCs (Relevant Legal Entities) must do so within 28 days and appoint a verified relevant officer. ● Existing PSCs: They have the same 12-month transition period, which is usually tied to the deadline for the confirmation statement. ● ACSPs: Before registering as an authorised agent, they must prove who they are. This means that businesses should plan ahead and not wait until the last minute, especially if you run more than one business. How the process works There are two ways to check. 1. One Login for GOV.UK Log in with GOV.UK One Login. This service is free and gives you a few options based on your situation: you can scan your ID with a mobile app, answer security questions, or finish the process at a Post Office that is taking part. You can scan your ID with a mobile app or finish the process at a participating Post Office. Security questions may not be available for all users. 2. Authorised Corporate Service Provider (ACSP) Get in touch with a licensed corporate service provider. This will be the easier way for a lot of businesses. Taxaccolega is an ACSP that is allowed and regulated to verify your identity for you using approved documents. This is especially helpful for directors or PSCs who live outside the UK and may have trouble using the GOV.UK system. Your Companies House personal code You will get a Companies House personal code once your information has been checked. This is a one-of-a-kind code that connects your verified identity to your job at the company. This is a personal code that connects your verified identity to all roles you may hold across different companies. When you file confirmation statements, get appointed as a director, or are listed as a PSC, you will need this code. You should keep the code safe and only give it
Unique Tax Reference Number | Complete Guide By Taxaccolega
Complete Guide to Unique Tax Reference Numbers Table of Contents What does a UTR number mean? Who needs a UTR? Where do I look for my UTR? How can I get a UTR number? 1) Self-employed people or people who file Self Assessment 2) People who aren’t self-employed but still have to file 3) Companies that are limited How long does it take? What if I can’t find my UTR? Do I need a UTR to file my return? Personal UTR vs. Company UTR (and other sources) Sole Traders And Individuals For small businesses Common mistakes (and how to avoid them) A quick list How Taxaccolega can help you Next steps (not required): HMRC uses a Unique Taxpayer Reference (UTR) to match your tax records to you (or your business). It is a 10-digit number and sometimes 13 digits in certain cases. A UTR is necessary if you file a Self Assessment tax return, are self-employed, are a partner in a partnership, or run a limited company. You can’t do your Self Assessment or company Corporation Tax filings correctly without it, and you could get in trouble. What does a UTR number mean? HMRC gives out 10-digit UTRs as references. People use it for Self Assessment, and businesses get a different UTR for Corporation Tax. Your PAYE reference, National Insurance number, or VAT number are not the same as this. The UTR helps HMRC find the right tax record for the right person or business. GOV.UK Who needs a UTR? If any of the following are true, you’ll need a UTR: ● You need to file a Self Assessment return if you are self-employed (sole trader) or in a partnership. GOV.UK ● You are a person who needs to do Self Assessment because of things like having a lot of untaxed income, rental income, large capital gains, or other reasons. You have set up a limited company, which means that your company will get its own UTR for Corporation Tax. First Formations Where do I look for my UTR? HMRC will have already given you a UTR if you have registered before. Look: ● The HMRC app or your Personal Tax Account (for individuals) ● Letters from the past about Self Assessment, like “notice to file,” payment reminders, or statements ● For businesses: letters about Corporation Tax, such as the CT603 “Notice to deliver a Company Tax Return.” GOV.UK Ridge Field Consulting Your UTR may appear in your Personal Tax Account or the HMRC app before the letter arrives, as HMRC moves more services online. Checking your digital account is often the fastest way to find it. How can I get a UTR number? You don’t apply for a UTR on its own. When you register for the right tax, HMRC sends it out automatically. 1) Self-employed people or people who file Self Assessment ● Sign up for Self Assessment online with HMRC. When you register, HMRC makes your Self Assessment record and gives you your UTR. GOV.UK 2) People who aren’t self-employed but still have to file ● If you’re not self-employed (for example, if you get rental income or certain investment gains), use the HMRC route to register for Self Assessment. As part of that process, you will get a UTR. GOV.UK 3) Companies that are limited ● Companies House tells HMRC when you set up a business. HMRC then sends the registered office a company UTR by mail. This is used for the CT600 return and Corporation Tax. How long does it take? In the UK, HMRC usually sends or re-sends a UTR by mail within about 10 working days for UK addresses (often 15 days by post) and potentially longer for overseas recipients. It may take longer if you are outside the UK. You might be able to see it in your online account or HMRC app sooner in some cases. During busy times, timelines can change. Tip: HMRC is moving more services online, and some helplines are only open for a few hours or close for the season. So, online self-service is usually the quickest way to get help. The Guardian. What if I can’t find my UTR? Look through your HMRC papers (letters, notices to file, payment reminders) and check your Personal Tax Account or HMRC app. If you still can’t find it, ask for it on GOV.UK (HMRC will send it safely). Important: keep your UTR safe like any other private ID. It’s not a password, but it is linked to your tax record, so keep it safe and private. Do I need a UTR to file my return? Yes. To file your own Self Assessment or a Company Tax Return, you will need a valid UTR. If you submit without a UTR, it will fail and you could miss deadlines and get fines. GOV.UK Personal UTR vs. Company UTR (and other sources) Identifier Who uses it What it’s for Where you find it Format UTR (individual) Individuals/sole traders Self Assessment returns & correspondence Personal Tax Account, HMRC app, Self Assessment letters 10 digits UTR (Company) Limited companies Corporation Tax (CT600), CT correspondence Company tax letters (e.g., CT603), registered office mail 10 digits National Insurance (NI) no. Individuals National Insurance, benefits, PAYE identification NI letters/card, payslips, P60 2 letters + 6 digits + letter (e.g., AB123456C) PAYE refrence Employers/employees Employee tax under PAYE, payroll filings Employer payslips, P45/P60, employer correspondence 3 digits/letter + reference 3 digits (HMRC office number) / employer reference (e.g., 123/AB45678) VAT number (if registered) VAT-registered businesses VAT returns & invoices VAT registration certificate, VAT letters 9 digits (GB…) 9 digits (usually starts with GB, e.g., GB123456789) HMRC gives details about UTR and where to find them. CT603 is the company’s “notice to deliver a Company Tax Return.” ct603 GOV.UK Step by step: Registering to get your UTR Sole Traders And Individuals Make sure you need to file Self Assessment (GOV.UK guide). You can sign up for Self Assessment online by making an account on Government Gateway. Wait for your
When will I have to pay Capital Gains Tax on Crypto Assets?
When will I have to pay Capital Gains Tax on Crypto Assets? What are Crypto Assets? Crypto assets also known as cryptocurrency and tokens is a digital currency which can only be used over the internet. It is secured through cryptography and managed through the decentralized system and therefore it does not allow any interference from any other authority such as a bank or the government. This reduces the chances of fraud because only the sender and the recipient can view the transaction. Location of Crypto Assets for Tax purposes The crypto assets are decentralized and this means that by nature they don’t have a location. However it is important to determine the location of the bitcoin for tax purposes. The location of the bitcoin is important for tax purposes for 2 reasons: ● It will determine what taxes you will pay if you are resident in the UK incase you sell it ● It will also determine what taxes you will pay as non UK domiciled individuals if you sell the asset The location is also important to determine if the inheritance tax needs to be paid on the crypto assets because only the non UK domiciled individuals are only subject to IHT on UK situated assets. The location of the crypto asset will be determined by the ‘residency of the beneficial owner’ this means that the person who holds exchange tokens is liable to pay UK tax if they are UK resident and carry out a transaction with their UK tokens which is subject to UK tax* When will I have to pay Capital Gains tax on my Crypto assets? HMRC expects you to pay capital gains tax in the following situations: 1. Sell your tokens 2. Exchange your tokens for a different type of crypto asset 3. Use your tokens for goods or services 4. Give away your tokens to another person, however, you won’t have to pay tax if you give your tokens as a gift to your spouse or our civil partner. 5. You might also have to pay capital gains tax if you donate your tokens to a charity You will be paying capital gains tax on your crypto assets if you are a resident in the UK and you have done any of the above transactions. What will I pay? You will pay capital gains tax on the gain that you will make as a result of selling, giving away or exchanging your tokens. If your gain is above your tax free allowance (annual exempt amount) which is £12 300 then you will pay CGT through your self assessment tax return. The tax rate you pay depends on the income tax rate band you fall into. If you are in the higher tax rate band you will pay 20% on the gains you make, however, if your total income falls in the basic tax rate band you will pay 10% on the gains that you make. You might be eligible for business asset disposal relief, in which you will pay tax at a reduced rate. Don’t forget to deduct allowable costs which will help reduce your gains for example costs of: ● Any transaction fees paid ● Advertising for buyer or seller ● Drawing up a contract for a transaction ● Making a valuation so you can work out gain for the transaction. If you want to buy or sell crypto assets and need any guidance to pay income tax or capital gains tax you can contact accountants in Croydon, Taxaccolega and our expert team of accountants will be happy to help you. Source: https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets#report-pay https://www.gov.uk/government/publications/tax-on-cryptoassets CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *
5 Tax tips for the Landlords that can save you money
5 Tax tips for the Landlords that can save you money When you are a landlord whether a professional or an accidental one you would want to get the maximum financial benefit from your property. One of the ways to achieve this is to work in the most tax efficient ways. This will reduce the amount of taxes you pay and as a result you can save more money. To work in the most tax efficient way you should be well aware of your property taxes, your tax deadlines, your business structure options and how they affect your taxes. Property taxes will include taxes such as rental income tax, corporation tax (if the business is incorporated), capital gains tax, stamp duty tax. Let’s look at the following tips to see how you can be most tax efficient and save money. 1: Make use of all the allowable expenses Allowable expenses are all the costs incurred which are essential in running your business. These costs are not taxable and therefore you can deduct these costs when calculating your taxable profits. This will reduce the taxable profit and therefore the tax you will pay on it. When you are a landlord managing property, allowable expenses would be any costs related to the renting or maintaining the property. The costs you can deduct are letting agents fees, advertising costs. Any kind of ground rent, utility bills, service charges. The costs would also include costs of repairing the property, however some costs are classified as capital costs and they won’t be allowable expenses for example the costs of extensions cannot be deducted from the profits. If you want to save costs you should keep a record of all the costs incurred. If you are not sure which costs are allowable expenses you can make a list of all the costs incurred and ask your financial accountant to guide you. The capital costs you incur, although you cannot claim it in your annual return, however you can claim it against the capital gains when you sell your property. You might be eligible to claim ‘Replacement of domestic item relief’ If you live in your property you can a portion the expenses and claim the expenses which were incurred in the rented part of the property. In the case when you live in your property you might be able to claim ‘ Rent a room allowance’ 2: Make use of all the available tax bands If your spouse is not working this means that they have not utilized their personal allowance or if they are working and their total income falls within the lower tax rate bracket, it is worth considering transferring property in your spouse’s name. The transfer is exempt from the capital gains tax and you as a couple would be paying tax at the basic rate. 3: You should know your deadlines If you don’t want to lose money on paying penalties you should be on top of your taxes. Don’t leave everything to the last minute. Keep all the records, have all the calculations done on time and pay your taxes on time. If you are self-employed you can look at your tax deadlines by clicking here 4: In some circumstances you can claim VAT Although income from the residential property is exempt from VAT meaning you cannot register for VAT, however if you are in a completely unrelated business and you are a landlord as well you can claim VAT on the expenses which were related to your property. For more information on this you can follow the link here 5: Structure your business wisely You can either work as a self assessment landlord or you can incorporate your company. When you are self-employed you pay income tax (will vary depending on the tax rate band you fall into) while pay corporation tax when you are working through a limited company( fixed rate will be charged).The corporation tax is set to increase from 19% to 25% from April 2023 for businesses earning above £50 000. When you have incorporated your company you can decide on the amount of money you pay yourself as a salary and as dividend, in this way you can make use of dividend allowance as well. If you are looking for property accountants to help you with structuring your business, handling your accounts and your property taxes please contact Taxaccolega, property accountants in Croydon and our team of accountants will be happy to help you. CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *