Hello, I'm Keith and happy to help you with your question.
As you may be aware Directors of companies are employees per se and must be remunerated through PAYE arrangements. However, if no wages are withdrawn then at this stage registration by the company for PAYE is not required nor EPS either. Reimbursement of expenses laid out by such persons on behalf of the company being refunded is outside the scope of UK taxation.
As far as Corporation Tax is concerned this return must be filed on line. You can also do your annual Companies House abbreviated accounts filing simultaneously, a very convenient way of avoiding this boring chore. Please see 'Deadlines and requirements for corporation tax' on HMRC web site. Here is HMRC advice upon when filing of accounts must be made: You must also alert HMRC to the presence of your company to get the ball rolling as it were.
'You must normally file your company or organisation's Company Tax Return - which includes a Company Tax Return form and other supporting documentation - within 12 months of the end of your company or organisation's Corporation Tax accounting period. Your Company Tax Return filing deadline is known as your 'statutory filing date'.'
I do hope I have put your mind at rest on this matter.
Thanks, ***** ***** question:
Since the director has never withdrawn any money in terms of salary and definitely its not gonna happen until we are being funded by UK Government for our salaries which is clearly non taxable.
But the company has director who is required to pay PAYE and NI Contribution. Kindly if you could clarify whether Director can pay NI keeping in mind that he never gets salary?
Also, If we don't register us with PAYE and don't pay NI Contributions because we don't pay salaries, Is it an issue?