Amending company accounts to include dividends

[SueEllen]

If legal, i would "backdate" the dividend to before I left the UK - the year in which it was intended (but forgotten) to be declared - I would then amend my company accounts to include that dividend. Re dating the minutes - I guess that's impossible to backdate since they don't exist for that year.

It isn't and coming on a public accessible forum stating what you intend to do isn't the brightest thing.

[oilboil]

If legal, i would "backdate" the dividend to before I left the UK - the year in which it was intended (but forgotten) to be declared - I would then amend my company accounts to include that dividend. Re dating the minutes - I guess that's impossible to backdate since they don't exist for that year.

Your statement shows a massive misunderstanding of dividends,

You cannot intend to declare a dividend. If you wish to declare a dividend, you have to hold a shareholder meeting, table the motion to declare a dividend and vote on whether to pass the motion.

All of the above require planning and a paper trail.

What you really mean to say is, with hindsight I've realised I would have been better off if I'd declared a dividend earlier. Well hindsight is a wonderful thing, and you've learnt a lesson, but you can't retrospectively hold a meeting that would need to occur in the past unless you are on good terms with Doctor Who and can borrow the Tardis

[NotAllThere]

I used to create print out the paper trail for year end accounting. Sometimes afterwards... But the money always left the bank account into mine in the right financial year. (Actually, that can be done after the event... but it must be booked within the financial year, which must be done before the books are closed for the year. The personal tax liability is when it is actually paid).

[Old Greg]

Your statement shows a massive misunderstanding of dividends,

You cannot intend to declare a dividend. If you wish to declare a dividend, you have to hold a shareholder meeting, table the motion to declare a dividend and vote on whether to pass the motion.

All of the above require planning and a paper trail.

What you really mean to say is, with hindsight I've realised I would have been better off if I'd declared a dividend earlier. Well hindsight is a wonderful thing, and you've learnt a lesson, but you can't retrospectively hold a meeting that would need to occur in the past unless you are on good terms with Doctor Who and can borrow the Tardis

I used to create print out the paper trail for year end accounting. Sometimes afterwards... But the money always left the bank account into mine in the right financial year. (Actually, that can be done after the event... but it must be booked within the financial year, which must be done before the books are closed for the year. The personal tax liability is when it is actually paid).

Quite. It wouldn't be the hardest thing in the world to backdate the minutes and dividend voucher, although it would be very bad indeed to do so. But the payment not being made is the clincher.

[Paralytic]

I used to create print out the paper trail for year end accounting. Sometimes afterwards... But the money always left the bank account into mine in the right financial year. (Actually, that can be done after the event... but it must be booked within the financial year, which must be done before the books are closed for the year. The personal tax liability is when it is actually paid).

Does this not depend on whether it is an interim or final dividend?

If a final dividend, the personal tax liability is due from the dividend declaration date, even if the actual payment date falls into a subsequent tax year (the amount due will be a directors loan/creditor in the intervening period).