Tax credit renewl as an employee and director

[sumer]

Hi alls,

I need help to calrify my postion . I am director of ltd company and full time employee in another company During the year 2011 -2012. My company is in loss and I hardly worked even a few hours a week as director . The questions I need to ask to fill my renewal tax credit pack :

 

1- Does a director has to be registered as self employed or company employee even I am full time PAYE registered in another company where my main income comes from ( I am regisrered to send self assessment and recieved UTR no.)

2- I decared 40 working hours as full time employee on my claim ,do I need to tell tax credit (hmrc) my unpaid working hours as director even I have not taken any financial benefits from my company (salary or dividend).

YOUR HELP WILL HELP ME

[Gbarbm]

If the company of which you are a director is a Ltd company, then you will be classed as an office holder and therefore an employee

I note you state you received no salary or dividends.

This may well cause alarm bells to ring with HMRC tax credits and they may wonder why you are receiving no income from the directorship and may wish to satisfy themselves that there is no directors loan account or management fees etc

The only way they would be able to confirm or deny thus is by having sight of the company accounts in particular the P&L (profit & loss) and the financial statements

[sumer]

Hi GB,

Sorry i was away from net . Thanks for your reply

Im not registered as self employed (registered as self assessement) should I fill in self employed section in renewal form ? . My company account is (11-2011) not submitted .

And also should I register self employed?

[Gbarbm]

You only need to register as self employed if you actually are...use the ESI (employment status indicator) to decide

 

https://esi2calculator.hmrc.gov.uk/esi/app/index.html

[sumer]

Thanks Gb for providing above link