Originally posted by GoodBytes
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Another tax return question
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Originally posted by TheCyclingProgrammer View PostI'm fairly certain you only need to fill out an employee sheet for a paid directorship. If you took no salary or claimed no expenses I don't think you do. Either way if you do it online the HMRC software should figure this all out for you and tell you what sheets you need after you've answered its initial questions.
I hope that's right.Will work inside IR35. Or for food.Comment
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Originally posted by VectraMan View PostI've been through this a couple of times with the online SA because I kept my company going whilst a permie, but deregistered from PAYE (and VAT). The form says something misleading like "how many employments or directorships in this period", so I say 2, but then it asks for a PAYE reference for the directorship, which I don't have. The only way to fill out the form is to say 1 and not include the directorship in that section. If you earned any dividends you enter it in a later section as if you were a shareholder only.
I hope that's right.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by VectraMan View PostI've been through this a couple of times with the online SA because I kept my company going whilst a permie, but deregistered from PAYE (and VAT). The form says something misleading like "how many employments or directorships in this period", so I say 2, but then it asks for a PAYE reference for the directorship, which I don't have. The only way to fill out the form is to say 1 and not include the directorship in that section. If you earned any dividends you enter it in a later section as if you were a shareholder only.
I hope that's right.Comment
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Thanks all, very helpful. I will read through the comments more carefully, and look at the suggested HMRC notes, at the weekend when I have more time.Comment
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I have gone through it again, and as I was a director, I must select 2 in the employments and directorships drop down. This then forces 2 employment pages to appear even though the dirctorship was unpaid. So it looks as if I must fill in two employments, all a bit confusing. Hi ho.
I also cannot figure out how to set no for Trusts, Capital Gains Summary etc. Bizarre.Comment
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Check the page where it asks you to select how many directorships you had again. It will probably tell you not to count any unpaid directorships.Comment
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Thought I'd mention that I spoke to HMRC today, and surprisingly they were very helpful. I must record an unpaid directorship in an employment page, despite no income. Odd but them's the rules.Comment
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Originally posted by GoodBytes View PostThought I'd mention that I spoke to HMRC today, and surprisingly they were very helpful. I must record an unpaid directorship in an employment page, despite no income. Odd but them's the rules.
The only exception is IR35 where they are caught in the same bind as the cage fighters in Mad Max Beyond Thunderdome: "I know you won't break the rules: there are no rules".Comment
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Originally posted by GoodBytes View PostThought I'd mention that I spoke to HMRC today, and surprisingly they were very helpful. I must record an unpaid directorship in an employment page, despite no income. Odd but them's the rules.Will work inside IR35. Or for food.Comment
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