Hi HMRC, thanks for the reply
So to confirm:
- I am a co-owner of NZ company, (let’s say) J
- I have no employment contract with J
- In my 2022/23 bank statement, I have income from J and my co-owner, X
- Despite holding shares in J, and X marked as a co-owner of J, I can treat this as self-employed income?
Just wanted to double check.
- I live in the UK
- I co-own a NZ-based company which I hold shares for
- I do not have an employment contract with my company (not an employee)
- I am billing my company for the work I am doing (software development) as a self-employed entity
- Similar to this post - https://community.hmrc.gov.uk/customerforums/sa/8fd68558-2ced-ed11-913a-00155d974e5f - my income has been paid by my company to me via bank transfers in GBP
- Similar to that linked post, I assumed I would treat my income as self employed income
- My accountant is telling me if I was not employed, it is necessary to submit this information as a foreign dividend
- I have not been classing those payments as dividends because:
a. my company has not paid out shares to shareholders
b. this money is for my software development work
c. this money is not payment because of company-profits
Am I right to say this should be self-employed income and not foreign dividends?