SA Help - 1st time doing it...

Silky_Racing

Hi guys,

Hope you can help...

I have a FT job that I pay tax via the normal PAYE method, however during 2012-13 I also became a director of a limited company. I have not taken any sort of income/reward from the limited company, no salary, dividend. Not a penny.

So I've now been asked to do a self assessment for the first time (as I'm now listed as a director) but not sure what I should put? I've paid all the tax I'm due to pay via PAYE.

Do I just say I don't have a directorship as I have not taken anything from the limited company? Do I have to put in my P60 PAYE figures into my self assessment or do HMRC already know about all that?

Can anyone help, as I'm very confused.

Thanks

Davide123

It's called self assessment

Put your p60 figures on from that employment

Another employment page for the directorship, no income figures

Silky_Racing

Thanks, so your saying I need to enter my P60 figures from my paying job even though Ive paid all the tax due through PAYE?

zygurat789

Silky_Racing wrote: »

Thanks, so your saying I need to enter my P60 figures from my paying job even though Ive paid all the tax due through PAYE?

The tax return is a "bare your soul" document, you have to put everything in it so that they can calculate your total income and tax kliability.
You have no guarantee that you have paid all the tax due through PAYE .
When you do take money from your directorship you could well find you are in the 40% bracket and you will get a bill for extra tax on you building society savings interest which has already been taxed.

Silky_Racing

OK, thanks for the advice. Will put everything through it then.