Tax return for the Director of company?

[midastouch]

Hi Folks!

Hi folks

I'm applying for my ILR(LR) 10 years and just want to clear this ambiguity before I apply .

I set up my company in Sep 2013 as a director. Applied for T1(E) 50k route. got refusal, appealed and finally got my visa in Feb 2015. I started taking director salary from April 2015.

My question is when do I need to register and complete my self assessment as a director? tax year ended 2014 or 2015... I actually registered myself from 6 april 2015 (based on the fact that this was the first time i started to receive salary from the company. My accountant says that you dont need to register from 2014 as you haven't received any dividend or income from the company, however, HMRC says soon you're a company director you need to submit tax returns.

Reply will be highly appreciated...Cheers!

[longhorn]

Hi Folks!

Hi folks

I'm applying for my ILR(LR) 10 years and just want to clear this ambiguity before I apply .

I set up my company in Sep 2013 as a director. Applied for T1(E) 50k route. got refusal, appealed and finally got my visa in Feb 2015. I started taking director salary from April 2015.

My question is when do I need to register and complete my self assessment as a director? tax year ended 2014 or 2015... I actually registered myself from 6 april 2015 (based on the fact that this was the first time i started to receive salary from the company. My accountant says that you dont need to register from 2014 as you haven't received any dividend or income from the company, however, HMRC says soon you're a company director you need to submit tax returns.

Reply will be highly appreciated...Cheers!

From HO and HMRC's perspective, you do need to file-in your tax return for any financial years when you were a director even if you didn't have any dividend income from that company. A close friend had a lot of issues just because his accountant advised him not to fie the return. A lot of accountants are of the view that you don't need to submit a tax return if your dividend income is below dividend threshold. But with HMRC and with HO it doesn't really work. I would advice you to play safe and file the tax return even if you didn't have any income at all from your directorship.

[midastouch]

yeah..I will do that...Thanks for you kind and quick reply mate!!..much appreciated