Accounting Web – HMRC has changed its stance and its guidance

For years we have been irritated by HMRC insisting that all directors must register for self-assessment, even if they have no tax to pay. Now HMRC has changed its stance and its guidance.

Not the law

The requirement to submit a tax return just because a person is a director is not imposed by law, but this inaccuracy has been endlessly repeated by HMRC. The advice to register for self-assessment if you are a company director has been included in guidance on, as well as built into the online tools which help individuals decide whether they need to complete a tax return.

Change has come

The good news is that HMRC has finally changed their position on directors’ tax returns. Their new advice is that a director will not be required to file an SA return if he or she is taxed under PAYE and has no additional tax to pay on other income such as dividends.

Source – Accounting Web

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