Sole director of a company never filed a tax return but takes out 20K dividends and Salary of nearly 8K.
Does he need to report the income and file a tax return
Replies (5)
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Another unless ...
Unless he has other income that might push him into higher rate
Or unless HMRC serve him with a notice requiring him to submit a return.
No but ....
No but it's a bit unusual for a director not to be asked to submit a return.
Not unknown, though.
It's not unusual . . .
No but it's a bit unusual for a director not to be asked to submit a return.
Not unknown, though.
Not at all unusual for companies formed in the last 7 years. I can't recall one where the director has received a self assessment return unless there has been need to register under the normal rules
Or he has has an income contingent student loan.
Although to be fair, that's probably one situation where HMRC will serve him with a notice to file as John says.