personal tax return for directors

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Two things in life are certain – death and taxes. Here’s what to do if the two are combined as far as filing a tax return.

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All directors of limited companies must file a personal tax return in the UK. This is a completely different filing to the company corporation tax return. Even if you or your business does not make any income for the year you will still be required to file a tax return. Your income, minus any expenses, is then used to calculate the percentage you are liable to pay for tax.

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