Silent Director

Discussion in 'Accounts & Finance' started by thoullis, Mar 8, 2018.

  1. thoullis

    thoullis UKBF Newcomer Free Member

    7 0
    I currently operate as a sole trader but as from 31.03.18 I am closing the company and as from 01.04.18 I will sell the same product line via a Limited Company of which I will be a Director but not shareholder. As a Director can I decline to take a salary for the 2018/2019 tax year and will I need to declare the directorship in my personal annual tax return even if I do not take a salary?
     
    Posted: Mar 8, 2018 By: thoullis Member since: Jul 18, 2011
    #1
  2. kulture

    kulture UKBF Legend Staff Member

    7,660 2,086
    Why will you not be a shareholder? The answer to your question is yes and yes.
     
    Posted: Mar 8, 2018 By: kulture Member since: Aug 11, 2007
    #2
  3. thoullis

    thoullis UKBF Newcomer Free Member

    7 0
    Why will you not be a shareholder? The answer to your question is yes and yes.

    Thanks for the response.
     
    Posted: Mar 8, 2018 By: thoullis Member since: Jul 18, 2011
    #3
  4. GraemeL

    GraemeL Pain in the neck? Full Member - Verified Business

    4,976 1,062
    Posted: Mar 8, 2018 By: GraemeL Member since: Sep 7, 2011
    #4