Stressed by tax?
Get Earnr Pro
May 3, 2022
May 3, 2022
Tax essentials

UTR for Crypto investors

A short and simple guide to UTR numbers for Crypto investors
Earnr is the finance and tax companion for the self-employed and side hustlers. We give you more time to run your business. Download Earnr for free on iOS or Android.

If you are a Crypto investor and you earn above £1000, it is highly likely that you will need to submit a self assessment tax return. Before you do that though, you will need to make sure you have what is known as a Unique Taxpayer Reference Number (UTR). It's important to do this in advance of submitting your self assessment tax return. We give you all the details in this little guide.

What is a Unique Taxpayer Reference Number (UTR) ?

A Unique Taxpayer Reference number is a code used by HMRC to identify investors for tax purposes.

Often referred to as a UTR number, this number gives HMRC an easy way to track your tax obligations and match your records to payments.

Just like your National Insurance, once you have this number it stays with you for life.

And if you’re trying to find it, your UTR number has 10 digits and sometimes has a ‘K’ at the end. It can be labelled as your tax reference’ number or ‘official use’, so keep an eye out for those.

Do investors need a UTR Number?

You’ll need a UTR number if you submit a self-assessment tax return.

And if you submit a self-assessment tax return as a Crypto investor it’ll be because you're investing over the capital gains threshold of £6,000 (for the 22/23 tax year) or because you have to submit a return for another reason like:

When you’re submitting a self-assessment tax return it’s worth making sure you’ve definitely put the number in correctly. Entering the wrong UTR number is one of the most common mistakes made each year and can actually get you a fine if HMRC don’t think you’re taking enough care.

Read more about self-assessment here

How do I get a UTR number?

You have to self-register for a UTR number as you’re not automatically given one.

There’re two ways you can do this:

  1. Through apps like Earnr.
  2. Through HMRC.

When applying through HMRC there’re three ways you can apply for your UTR number:

Pay As You Earn and Self Assessment, HM Revenue and Customs, United Kingdom, BX9 1AS

Post is likely to take a while as there’ll be some back and forth with more requests for information and proof of identity.

An important thing to remember is that it takes 10 days to receive your number as HMRC send it by post, so the sooner you apply the better! If you’re working abroad then it takes 21 days.

How can I find my UTR number?

If you’re not sure if you have one, or have lost it then give HMRC a ring on 0300 200 3310. Just make sure to have your National Insurance number ready to hand.

The number should also be in your Government Gateway portal in the top right-hand corner of your account summary.

Otherwise you can check any correspondence you've received from HMRC. Your tax return should show the number distinctly in the top left corner and appear: UTR  1234567891.

Blog Home

Related blog posts

decorative image of a blog

What is IR35 and do I need to worry about it?

There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.

Read more
decorative image of a blog

Flat rates for mileage vs actual expenses. What is better?

Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.

Read more
decorative image of a blog

What is the EIS and how does it work?

If you are looking to invest in small and medium sized businesses, the Enterprise Investment Scheme (EIS) provides lots of tax reliefs for doing so. Here we discuss what it is and how it works.

Read more
Earnr logoDownload earnr