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When to register for Self assessment as a Director?

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha

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midastouch
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Posts: 25
Joined: Tue Sep 13, 2016 11:23 am

When to register for Self assessment as a Director?

Post by midastouch » Tue Sep 13, 2016 12:08 pm

Hi Folks!

I have got question from the guru's. I set up my company in Sep 2013 as a director. Applied for T1(E) route. got refusal, appealed and finally got my visa in Feb 2015. I started taking director salary since 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)

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

Cheers!

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zimba
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Re: When to register for Self assessment as a Director?

Post by zimba » Tue Sep 13, 2016 1:15 pm

All directors of the company who get salary/dividends from their company must register with HMRC for self assessment tax returns. The year ends on 5th April each year and you must submit a self assessment by the end of the following October (paper submissions) or by the end of the following January (if done online)
In your case, you need to file your self assessment for the tax year ending 5 April 2016 before the deadlines. So you need to file by the end of next month or by the end of Jan. Talk to your accountant.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

n8net
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Posts: 781
Joined: Fri Feb 08, 2013 6:06 pm

Re: When to register for Self assessment as a Director?

Post by n8net » Tue Sep 13, 2016 3:33 pm

when you initially incorporated your company which you have been running, what visa were you on ? did it allow you to start your own company ? else expect some questions from HO like I did.

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