Hello
I ran a limited company for about 8 months while on an IT contract and paid myself about £15K salary and about £130 dividend during the 2013-14 tax year following my accountants advice. My accountant did the tax return and marked me as a company director and not self employed. I have now to do the 2014-15 tax return. I had no PAYE and about £12,500 in dividends from my company, again following my accountant's advice, the company ceasing to trade in July. I then subsequenty had a permie job. So my question is:
Do I say I was self employed for the 2014-15 tax year? I have correctly said I was a company director.
I suspect if I don't then I am under IR35, and cannot pay dividends. Or am I mistaken? I am concerned that this will flag up a check my HMRC and they might have a go at me.
Thanks.
I ran a limited company for about 8 months while on an IT contract and paid myself about £15K salary and about £130 dividend during the 2013-14 tax year following my accountants advice. My accountant did the tax return and marked me as a company director and not self employed. I have now to do the 2014-15 tax return. I had no PAYE and about £12,500 in dividends from my company, again following my accountant's advice, the company ceasing to trade in July. I then subsequenty had a permie job. So my question is:
Do I say I was self employed for the 2014-15 tax year? I have correctly said I was a company director.
I suspect if I don't then I am under IR35, and cannot pay dividends. Or am I mistaken? I am concerned that this will flag up a check my HMRC and they might have a go at me.
Thanks.
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