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Joined: 9/20/2024
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Question about Self Assessment as a director for a foreign company
Hi everyone! I will preface this by saying that I'm a newbie when it comes to taxes etc, so I'm in need of advice please. I currently live and work in the UK for a UK-registered company. The owners are planning on opening a new company in France. This will be a separate business, but ultimately owned by the same group as the UK company I currently work for. I am to be made one of the two directors of this French company, but this presumably be in name only for now. I will not be earning an income from this at first, until the company is ready to propely start trading. Until then, I will continue being employed by the UK company as well. If I don't actually receive any payment from the French business, would I still have to submit a Self Assessment form? If so, will this be in addition to my regular taxes being deducted via PAYE for my current job? And finally, I know this is rather vague, but is there anything else I should be aware of/have to submit? As I said, I am so new to this, I don't really know what to expect. Thank you!