Wages/Dividends

[Wesdev]

Does anyone know if there is limit to how many dividends you can take in a month or the amount. Is there a restriction in amount too?

[Ardesco]

You can take what you like as long as it is profit.

[max]

Does anyone know if there is limit to how many dividends you can take in a month or the amount. Is there a restriction in amount too?

Ask your accountant if they can provide sample meeting minutes and tax vouchers. These will need to be filled out each time you declare/take the divi.

[Bluebird]

Ask your accountant if they can provide sample meeting minutes and tax vouchers. These will need to be filled out each time you declare/take the divi.

or you can do it yourself - what with you running your company and all...

[max]

or you can do it yourself - what with you running your company and all...

Yes...that's why I said ask them for a sample.

[FiveTimes]

Ask your accountant if they can provide sample meeting minutes and tax vouchers. These will need to be filled out each time you declare/take the divi.

Is it not possible to take the divis, and then at the end of the year the accountant could retrospectively draw up the correct paper work???

[Wesdev]

my accountant said that you can only take up to 5k per month and the rest has to be declared as a BIK? Is this correct?

Stupidly i've been drawing a few 1k divi's per month as i've been doing up the house!

[VectraMan]

Is it not possible to take the divis, and then at the end of the year the accountant could retrospectively draw up the correct paper work???

Yes, but that probably counts as fraud.

All you need to do is sign a piece of paper.

[VectraMan]

my accountant said that you can only take up to 5k per month and the rest has to be declared as a BIK? Is this correct?

One of you is very confused. If it's him, get a better accountant.

£5K is the limit for a director's loan, so that's probably where the confusion lies.

[Bluebird]

my accountant said that you can only take up to 5k per month and the rest has to be declared as a BIK? Is this correct?

Stupidly i've been drawing a few 1k divi's per month as i've been doing up the house!

you can take as much as you liek as dividend PROVIDING the company is making the profit to cover it.

What you accountant is probably refering to is the personal tax limits - once you hit about £38k [ that includes dividend, gross salary & bank interest ] then any additional you start paying tax on your dividend.