Limited Company with no Profit

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T.C.
T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
in General accounting discussion
My client is also a partner in a limited company which has yet to make a profit, hence he has received no salary, dividends etc. Should I note his position on his self-assessment Tax Return or is it unnecessary at this stage? Opinions appreciated.

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  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    What do you mean by "partner in a limited company"?

    If you mean director then I tend to put a note in the additional information to the extent that they are a director but received no remuneration. If the company is dormant then I do not mention it at all. This information is all optional.
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    Yes, I mean director in a limited company that is new and not yet making any profit. Thanks for that advice - I will put a note in the additional information. Much appreciated.

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