Inland Revenue have just told me i owe them

[martinb]

All directors must complete a tax return each year, even if nothing is owed. You should be declaring your investment income, even if it is producing a loss.

Alan

Wife is company secretary and director of my Limited. For the 2003/4 and 2004/5 years she submitted self assessments. After the 2004/5 return she received a letter saying she was NOT required to submit a self assessment for the following year (ie 2005/6) - even though she was and is a director and it quite clearly showed on her 2004/5 form that she was a director.

[Ardesco]

If you earn sod all consistently the IR can tell you not to bother sending one in. However if they don't tell you to not bother sending one in you must or you are elligible for a fine as stated above.

[Nixon Williams]

I have seen letters from the Revenue to clients of ours stating that they are not required to complete a tax return any more, however it also states that if you are a dircetor you are required to complete one!

Check the letter, do not rely on the people at the Revenue knowing what they are doing!!

Alan