Non resident director-Class 1A NIC payable?
I have a client who is a director of a property rental company incorporated in the UK.He emigrated to Portugal over 10 years ago and is non resident and probably non domiciled in the UK now.He lives in Portugal now with his family and his returns to the UK are infrequent.
In the course of preparing the company accounts I have discovered that he has overdrawn his directors loan account in 2006/2007 by a very large amount.He does not draw a salary from the company and there is no PAYE scheme set up.The director in question manages the company property portfolio from Portugal and any board meetings will take place there.Although he comes to the UK to check on the properties occasionally it appears to me that the duties of his employment are largely carried out in Portugal.
Am I correct in believing that there is no liability to income tax under the benefit in kind provisions,and therefore no liabilty to Class 1A NIC on the company?I accept that the company will be liable to corporation tax under Section 419.
- Multiple for fee bank purchase 150 4
- Business lending another business money (UK) 310 9
- Manufacturer cashback on fixed asset purchase 53 1
- Does anyone have an old version of Sage for sale? 278 7
- Family Partnership 288 9
- Problems viewing AWeb posts 187 5
- CIC Abbreviated Accounts 192 6
- Business trips - director and family 421 3
- Signed accounts for bank 665 15
- flat rate scheme 2,380 50
- Restriction of trading loss and overlap relief 170 2
- Rollover relief - No new asset purchased 328 5
- Can I prepare dormant accounts? 189 2
- How do you integrate prepaid expenses in to the cash conversion cycle? 95 2
- What route into accountancy would you recommend? 856 12
- Deferring dividends on paper 209 5
- VAT Query on new build 127 1
- How to format Co-operative Accounts 121 1
- P11D Car Value 273 6
- NOVA declaration 112 1