Hi,
I am on tier1 general. I am working full time at a company and pay tax through the company PAYE scheme.
However, in June last year, I resigned from my previous employer and have two months gap before starting the work with my new employer. During the two month gap, I set up a limited company (I'm the only director) and registered myself as a self-employed. After I started a new job, I called HMRC telling them that I was no longer self-employed. So the situation now is that my limited company is like a part-time business to me. However, the company didnt' do well, so I didnt' make any money (zero income) since I set it up and I didnt' draw any money from the company as a salary.
Now the quetion is, do I have to file self assessessment tax return? I know I have to file the corporate tax return no matter what but I'm not sure about my personal return. My regular income from the company I work for is definitely being take care of by the company. But what about the other part - where I am a director of a company which didnt' make any money and I draw zero money as a salary?
Can anyone advice please? I have tried so hard to find the answer but getting no where. Thanks.
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