Self Assessment for company directors

HMRC’s rule is about untaxed income, not job titles. As a director you’ll normally need to file if any of these apply:

• Dividends over £10,000 in a tax year (between £500 and £10,000 can often be handled through your tax code instead)
• Rental income, self-employed income or significant savings interest
• Capital gains to report — for example selling shares or a property
• Income over £100,000, or the High Income Child Benefit Charge applies
• HMRC has sent you a notice to file — then you must, regardless

For the typical owner-manager taking a small salary plus dividends, that means most directors of profitable companies do file one each year.

• 5 October — register for Self Assessment if you need to file for the first time
• 31 October — paper return deadline
• 31 January — online return deadline and payment of any tax owed (plus your first payment on account, if due)

A late return costs £100 immediately, with further penalties at 3, 6 and 12 months, and interest on late payment. Filing early doesn’t mean paying early — the money is still due 31 January, but you know the bill months ahead.

1. We gather your income details — salary and dividends direct from the company records if we act for your company
2. We prepare the return, claiming the allowances and reliefs available to you
3. We confirm your exact tax bill (or refund) and the payment dates
4. You approve; we file online with HMRC and send you the confirmation

Salary-and-dividend planning questions — “am I taking money out the best way?” — usually surface during this work. See our guide before year end, when there’s still time to act.

Salary vs dividends — how directors pay themselves →