Following my first seat with the Litigation, Commercial and Personal Injury Department, I moved to the hectic Property Department in January 2019. I have found this area incredibly interesting, particularly Commercial Property, and important to my continual...
There is a widespread belief that every UK company director has to file a tax return. Indeed, the Government's own website suggests that being a company director alone means you should register for self-assessment and file a tax return annually.
However, that is not what tax law says. Under the law, there is no automatic requirement for a company director to file a tax return.
A return must be filed in order to claim certain tax reliefs or if there are liabilities which must be reported to HM Revenue and Customs (HMRC), such as a Capital Gains Tax liability. A return must also be filed where HMRC issue one.
When in doubt, it is less risky to file a tax return, but it is established law that unless there is a tax liability which must be reported, a return does not normally have to be filed.