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• # 103936
• Mon 26 Jan 2015 02:10 PM

Hi all, my friend suggested I ask this question here.

I'm filling out my self assessment. I'm a director of a limited company and my year ends on 31 October. I filed my Corporation Tax to 31 October 2013 with no problem, but I'm not sure how to get this information into my self assessment? I did pay tax on my earnings to 31 October 2013.

Also, do I need to include income from November to April? Would this mean I'd be taxed twice - both on corpration tax when it is filed this year, and self assessment?

Thanks in advance

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• # 103938
• Mon 26 Jan 2015 02:29 PM

Hi, Are you employed by your own company? Ie you take wages through PAYE? 

If so this is the same way I do it and I have just filed my SA online so I guess you will be the same...

The self assessment period runs from 6th April - 5th April the following year. So by the end of Jan 2015 you need to file the return from Apr 2013-2014 showing your personal income during that period (PAYE, dividend, savings interest etc)  but this doesn't really have anything to do with your company's year end (mine is end of Sep) or corporation tax.

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• # 103940
• Mon 26 Jan 2015 02:45 PM

Hollybalolly2 said:

“

Hi, Are you employed by your own company? Ie you take wages through PAYE? 

If so this is the same way I do it and I have just filed my SA online so I guess you will be the same...

The self assessment period runs from 6th April - 5th April the following year. So by the end of Jan 2015 you need to file the return from Apr 2013-2014 showing your personal income during that period (PAYE, dividend, savings interest etc)  but this doesn't really have anything to do with your company's year end (mine is end of Sep) or corporation tax.

”

Thank you for your reply.

I don't pay anyone via PAYE, just take out money when I need to. So does this mean I don't need to say anything about my company as Hmrc already know? And I just file my corporation tax and pay tax then?

S

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• # 103943
• Mon 26 Jan 2015 04:29 PM

Hi Sheila,

A bit more information is needed to be able to help you:

1.You say that you have already paid tax on your earnings to 31st October 2013. Where were these earnings from and how was the tax paid?

2. You say you just take money from the company when you need it,how is  this accounted for in your company accounts?Is it a refund of a directors loan, dividends declared earlier or something else?

Regards

Gordon

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• # 103959
• Tue 27 Jan 2015 01:38 PM

Hi Sheila,

I appreciate you may wish to keep your costs down but I would advise you to speak to a qualified person where you can give ALL the relevant information.

You may be paying more tax than you need!

Kind regards Adrienne

• Adrienne Blair-Underwood
  24-7 Accounts
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• # 103976
• Tue 27 Jan 2015 11:25 PM

I have realised I am out of my debt so I've engaged a bookkeeper.

Thanks for your help.

S

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