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Fiona46


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dividend payment
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Hello all.

A quick questions about dividends. I know that if a company makes a dividend payment out of distributable reserves that certain paperwork needs to be prepared and given to the recipient. Is there anything that needs to be submitted to the HMRC or are they wholly reliant on the dividend recipient including details of the dividend in their self assessment?

 

Many thanks for your time



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abacus12345


Guru

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So long as (IIRC) dividends are legal and they are paid out of non-statutory reserves, the self assessment form (paper or digital) is enough.

Dividend payments will need to be included within the accounts of the company issuing them.

Vouchers should also be issued - minutes noted and agreed, even if it is a one man / woman run operation (almost wrote 'owned')

Assuming everything agrees with the AOA.

Happy for anyone to add to my thoughts.



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Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 
Cheshire


Master Book-keeper

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HMRC will see the dividend in the full accounts submitted with the CT return. Only transparent from that persepective for one person limiteds.

All I would add is tell them to take care re the date on divi vouchers given the tax changes etc.

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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