If he owns 15% or more of the company shares than regardless of whether he receives a salary or not from the company of which he is a director, he is classed as self assessed and must submit F11 every year.
In addition i have contacted Revenue and the response is as follows:
1) If you have a minimum 15% shareholding then you have to file a self-assessment return.
2) If you have less than a 15% shareholding then you may apply to de-register for self-assessment and go back to PAYE.
In order to do this you will have to submit a letter stating that you are NOT a proprietary director and do not own nor have ever owned more than 15% of this or any other company. And that you wish to be removed from self-assessment and placed back on PAYE taxation.
I am PAYE employee and in similiar situation. I am a director of 0% share holding and have never received an income.
If I am reading the previous post correctly as I have less than the 15% shareholding then can I apply to de-register for self-assessment and go back to PAYE and still continue to be a director? .
I also want to be able to register tax credits etc on the ROS PAYE