Glossary of UK terms

ARD – Accounting Reference Date

The last day of your financial year.

CT600

The Company Tax Return you file with HMRC.

Companies House

The UK register of companies. You file accounts and confirmation statements here.

HMRC

His Majesty’s Revenue & Customs – the UK tax authority.

MTD – Making Tax Digital

HMRC’s digital record-keeping rules, required for VAT returns.

PSC – Person with Significant Control

Someone who owns or controls more than 25% of the company.

SIC code

A 5-digit code describing your business activity.

UTR – Unique Taxpayer Reference

A 10-digit number HMRC gives your company for Corporation Tax.

Net / Gross

Net = before VAT. Gross = including VAT.

General information, not tax or legal advice. Rates and dates change – always check GOV.UK.