Full time employment and Ltd Company Directorship

e4e

Hi Members

I am full time employed and have just registered myself as the Director of another company to start a new small business.

I have been asked to attend a Gateway Intervention appointment after I have taken over a company as Director of the company that is effectively inactive and not making any profits for the past 2 years.

Also I have been told by the UC agent that though the company will be considered as a side business and my main income would still remain my primary Full time regular employment but going forward I will have to declare my monthly income and expenses from the new Directorship.

My question is:

Am I considered Self-employed for UC purpose? Internet says being a Director means I am employed by the company and do not need to be registered as self employed.

Would it not contradict HMRC rules especially when I will not be reaching anywhere near to £1000 revenue that is needed to get registered as self-employed by HMRC?

How should I be able to declare income/expenses as they will vary every month even if we think of the company getting into active mode? Should it not be at the end of the company tax year?

What if I do not withdraw any income from the company accounts; no wages and no dividends just to give it a boost? What income/expenses would I declare in that case?

Would appreciate your advice on the questions please.

Thanks

poppy123456

You will be treated as self employed by UC and yes you will need to report this. You will also need to report your earnings and expenses on the last day of each assessment period.

No, it doesn't contradict HMRC rules because you are still treated as self employed, which needs to be reported.

For UC purposes when you're self employed you report what comes in and what goes out and the difference becomes your earnings.