If a limited company year end is 30 October and dividends were declared throughout the year do I apportion the dividends to the tax year 6 April to 5 April when completing his personal tax return?
The directors self assessment is based on what they received (or should have received) during the year (6th to 5th).
Quite often directors take money against the DLA throughout the companies year which is then cleared by a dividend at the period end. The self assessment would be based on the date of the dividend.
Don't apportion but rather use the actual dates of the dividends to determn the tax year that such falls in for the purpose of self assessment.
Kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I was looking at the clients previous tax return and the tax voucher. The voucher is dated October 2013 yet the amount of this dividend is recorded on his self assessment tax return for the year ended 5 April 2013. ? It was this that got me thinking in the first place.
