Personal Finance & Money Asked on February 20, 2021
I left the UK for good years ago, but I still have a private limited company there (that I own 100%) and because of that I have to file self assessment which is just a series of zeros in every input field because the private limited company is also not doing any business.
When filling out the self assessment, there is a question about whether I am a director of a private limited company or not (I am) and when I choose yes they ask for my P45/60 as provided by my private limited company to me. The problem is, I’m not on the payroll because I never paid myself a salary for being director and therefore there’s no P45/P60 either so this leaves me with 2 options for filling out the personal self assessment AFAIK:
Question: What is the correct course of action here?
TLDR: Check 'No' and make a note explaining that there was no income from the directorship.
Longer version: After having paid a professional to do it for me I can confirm that what they ended up doing is ticking 'No' for directorship on the basis that I had no income from said directorship and then provided a free-form explanation stating that the reason why they ticked 'No' is as stated above.
Correct answer by Peter on February 20, 2021
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