Board minutes for dividends and statutory company records

[mobwell]

I have my own Limited Co and pay myself a salary and dividends. As far as I understand it each time I pay myself a dividend I need to produce a dated dividend counterfoil/voucher and also write up a company minute to the effect that I should be paid £x per share. The article I'm reading says these company minutes need to be filed in the company's statutory records in case the tax man comes knocking and wants to see the records. What exactly are these statutory records and where are they kept? Is it enough to have the printed copies filed away with all my business stuff or do they have to be sent to my accountant, Companies House or somewhere else.

Many thanks in advance

[chris79]

dont take my word for it, but since doing this myself all I do is print out the minutes (dated and signed by myself the director), as well as the dividend vouchers and I print and file them away in my folder with all my other company documents...

Nothing special to do I don't think.. just make sure you have them handy if they ever knock on the door?

[miss marple]

When I set my company up aeons ago, I was actually sent an official red covered minute book and a company seal.

Needless to say, the minute book has sat in the company safe, with its virgin folios intact ever since. (But it could be written up immediately the occasion warrants it).

The company seal acts as a useful door stop.

That's how it used to happen. Meetings minutes would be hand written in the big red book and any official documents would be stamped with the company seal.

Nowadays, as long as you have a piece of paper, produced in MSWord (or word processor of your choice) saying 'meeting date.... dividend agreed...' etc. which you can produce should an Inspector come calling, you're fine. No need to send it anywhere. Either file it somewhere safe at home (sorry - business premises) or retrospectively manufacture it should the occasion arise.

[Bluebird]

I have a spreadsheet that works all the finance stuff out and populates the minutes and vouchers each month.

If the IR ever call I can just print off and sign.

[Mustang]

What exactly are these statutory records and where are they kept? Is it enough to have the printed copies filed away with all my business stuff or do they have to be sent to my accountant, Companies House or somewhere else.

My vouchers and minutes are filed away with all my other Co stuff and my accountant has a copy as he will be the first port of call for HMRC if they come knocking (his office is registered Co address).

[RockyBalboa]

I have a spreadsheet that works all the finance stuff out and populates the minutes and vouchers each month.

If the IR ever call I can just print off and sign.

Where do I get a copy of that?

[aj1977]

I have a spreadsheet that works all the finance stuff out and populates the minutes and vouchers each month.

If the IR ever call I can just print off and sign.

hi there,
wud u mind emailing me the spreadsheet please.If yes then I shall PM my email id to u
Thanks

[realityhack]

I got mine from my accountant - suggest you do the same.

[clwd]

I have a spreadsheet that works all the finance stuff out and populates the minutes and vouchers each month.

If the IR ever call I can just print off and sign.

My accountant only told me to do the minutes for the dividends payment without mentioning any vouchers. I pay myself dividends from my business bank account via on-line banking. So, what is the vouchers?

[Gonzo]

My accountant only told me to do the minutes for the dividends payment without mentioning any vouchers. I pay myself dividends from my business bank account via on-line banking. So, what is the vouchers?

If you have shares in a plc, or an investment fund, when they pay you a dividend they will send you a tax voucher showing the gross dividend, tax credit and net dividend. You should keep this with all your paperwork for when you do your tax return.

My accountant asks for the minutes of the directors' meeting declaring the dividend, but has never mentioned producing the tax vouchers.

I am trying to break the habit of wanting to know everything and have complete confidence in my accountant, so I am trying to leave all accountancy decisions to them and have taken it on trust that I don't need to produce the vouchers. There must be a good reason for it.