Director with no income- self assessment

Director with no income- self assessment

Didn't find your answer?

Hello everyone

I am a director of my company but have not received any income from it. Do I need to fill in details about the company, e.g. paye code, etc, if I am not receiving any income and am not on the payroll?

Thank you for your help.

Replies (9)

Please login or register to join the discussion.

Me!
By nigelburge
23rd Jan 2016 08:16

No. Simple question - simple answer!

Thanks (0)
By cheekychappy
23rd Jan 2016 09:06

Maybe
Is the not so simple answer.

You don't have to complete a tax return just because you are a director.

You will have to complete one if you have income that hasn't been taxed at source and should be taxed.
You will also need to complete one if HMRC have sent you a notice to file one.

Thanks (0)
Out of my mind
By runningmate
23rd Jan 2016 09:39

@cheekychappy

Cheekychappy

I do not think the question is 'Do I need to complete a tax return?'

I think the question is 'When I am completing my tax return do I need to fill in an employment page as a director when I have received no pay from that company?'

RM

P.S.  To the OP - Did you receive any benefits in kind or anything that was (or should have been) reported on a P11D?

Thanks (1)
Replying to DJKL:
avatar
By dz651
23rd Jan 2016 14:08

Hi RM

 

Thank you for replying. No, I did not receive any benefits of any kind.

Thanks (0)
By Tim Vane
23rd Jan 2016 09:56

@OP, you should really direct this question to your accountant. But I'm guessing that because you didn't, then you haven't appointed one.

So you'll say you can't afford one.

This is ironic, because by not appointing an accountant, you have just cost yourself £2000. That's the minimum tax you would have saved off your first Corporation Tax bill if you had appointed an accountant. False economy.

Just saying.

Thanks (2)
Out of my mind
By runningmate
23rd Jan 2016 10:10

@Tim Vane

Are you assuming that the OP has no other source of taxable income?

RM

Thanks (0)
By cheekychappy
23rd Jan 2016 10:42

@Runningmate

Yes, on reflection, the OP could already be in self assessment. 

Thanks (0)
By Paul D Utherone
23rd Jan 2016 12:59

If you have no income from the directorship

you do not need to complete employment pages if you have in any event been required to submit a return, but can add a note in the additional information box to say the following:

NIL PAID DIRECTORSHIPS - I was a director of the Company Name Limited and received no payments of any kind and no benefits have been provided.

Thanks (1)
By Tim Vane
24th Jan 2016 00:02

Yes, runningmate, I am making all sorts of unfounded assumptions and guesses. Don't let the facts get in the way, this is aweb! :-)

Thanks (0)