Wife as shareholder

[Fred Bloggs]

There is no actual legal obligation to do a SA as a director. There is an obligation to do one if asked or if tax is owing. So, provided you are certain there is nothing owing you have no problem.

That's how I saw it too, but Clare above, raises the possibility of Mrs B being hit with penalties for non completion. It is Bloggs Ltd Co year end in a few months time (July IIRC), I think I'll suggest she resigns as a director from the new Ltd Co year so we draw a line under the number ofpotential penalties that could be applied. We are certain no tax is due.

[Clare@InTouch]

That's how I saw it too, but Clare above, raises the possibility of Mrs B being hit with penalties for non completion. It is Bloggs Ltd Co year end in a few months time (July IIRC), I think I'll suggest she resigns as a director from the new Ltd Co year so we draw a line under the number ofpotential penalties that could be applied. We are certain no tax is due.

It's just the risk of having to have the argument with HMRC about the legal necesssity for filing a tax return - if there were any penalties you could appeal, and if no tax is due then the penaly should be reduced to zero anyway, but it just saves having that trouble in the first place. If the SATR is simply dividends and salary then it's easy enough to do online too.

[Fred Bloggs]

It's just the risk of having to have the argument with HMRC about the legal necesssity for filing a tax return - if there were any penalties you could appeal, and if no tax is due then the penaly should be reduced to zero anyway, but it just saves having that trouble in the first place. If the SATR is simply dividends and salary then it's easy enough to do online too.

Thanks Clare, it seems sensible for Mrs B to resign her directorship I think, just stay as co sec and shareholder. Reduces further exposure to any issues. Biggest issue of doing SA's for years back would be tracking down the small amounts of bank account interest to report.

[prozak]

Thanks Clare, it seems sensible for Mrs B to resign her directorship I think, just stay as co sec and shareholder. Reduces further exposure to any issues. Biggest issue of doing SA's for years back would be tracking down the small amounts of bank account interest to report.

As you suggest just have her resign.

Dont bother with previous years returns.

I had to contact HMRC many times to get them to have me set up for SA.

[Fred Bloggs]

As you suggest just have her resign.

Dont bother with previous years returns.

I had to contact HMRC many times to get them to have me set up for SA.

That's the plan, wheels are in motion