An individual must submit a Self Assessment tax return if they are issued with a notice to file a return. A director whose only income is taxed under PAYE, or has no taxable income at all and who has not received a notice to a file a tax return, is not required to report to HMRC or to register for self-assessment.
Does a director need a UTR?
Company directors must register with HMRC for Self Assessment before they can send their personal tax returns. Within a few days of registration, you should receive your personal Unique Taxpayer Reference (UTR) number from HMRC.
Is a UK company director self-employed?
What is a company director? Directors are classed as office holders by HMRC for tax and National Insurance contribution purposes, so they are not self-employed. This means any payments you receive for your role as a Director must be as salary and subject to PAYE.
Do I need to do a self assessment if I have a limited company?
If you’re a limited company director, you’ll usually need to file a Self Assessment to let HMRC know about any dividend income you’ve received form your company. Other examples of income not taxed at source can include rental income from any property you own, income from abroad, or investment (dividend) income.
Do I need to register for PAYE as a director?
You will first need to register for the PAYE scheme. HMRC will then issue you with an office and PAYE reference. Directors are treated in a similar way to other employees with PAYE, but there are different methods to calculate the tax that needs to be paid.
Do I need to register as self-employed if I am a director?
Most company directors and shareholders are required to register for Self Assessment and file personal tax returns with HMRC after the end of each tax year. Self Assessment registration, filings, and payments can all be carried out online.
