Do I need to file a tax return?

As per the HM Revenue and Customs (HMRC) guidelines, you must submit a tax return if any of the following applies:

  • You are self-employed
  • You have untaxed income of £2,500 or more
  • You have saving income of £10,000 or more before tax
  • You made profits from selling assets such as shares, second home or other chargeable assets
  • You are a company director
  • Your income (or your partner’s) was over £50,000 or one of you claimed child benefit
  • You have foreign income
  • You live abroad and have a UK income
  • Your income is over £100,000
  • You are a trustee of a trust or registered pension scheme

It is mandatory for a company director to submit a tax return with HMRC if a return has been issued. But what about if a Self-Assessment tax return has not been issued to a director he does not have a tax liability?

As per the above HMRC guidance, you must complete a tax return if you are a company director (unless you are a director of a non-profit organization, for example a charity, and don’t receive any payments or benefits).

There is no requirement under TMA 1970 S7 for a director to register for self-assessment if there is no further tax liability for the year.

Therefore, if a director of the company has no further tax liability for a tax year AND no self-assessment tax return has been issued by HMRC, then there is no requirement for the director to file a tax return for the year in question.

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