corporation tax - dividends

[joon1]

Hi getting myself mixed up again, i was advised on a previous note to calculate CT on a running total not substract every month, so how do I work out my taxable profit every time i pay dividends without taking away CT from previous time eg
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Income received from agent (excluding VAT) £15,750.00

Less: Expenses (including salary, employers NIC and all other costs incurred) £2,815.79

Taxable profit £12,934.21

Less: Corporation Tax @20% £2,587.00

Maximum dividend available for distribution to the shareholders during the month £10,347.21

Dividend paid £9,000.00

Distributable profits carried forward £1,347.21
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Month 2
Income received from agent (excluding VAT) £24,097.00

Less: Expenses (including salary, employers NIC and all other costs incurred) £6,290.40
Taxable profit £17,806.60
Less: Corporation Tax @21% £3,739.39
Maximum dividend available for distribution to the shareholders during the month £14,067.21
Dividend paid £10,000.00

Distributable profits carried forward £4,067.21
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should i not be subtracting first months CT from second months taxable profit or should i keep it seperate?

[Bluebird]

Not too sure what you mean.

CT is calculated at the end of the year, and is based on the TOTAL profit at that time - not on a month by month basis.

Your calculations seem fine, you calculate the CT which will "probably" be due based on the Profit for each month which you have done.

[joon1]

I mean when i work out my tax voucher per dividend do i take away previous CT to calculate new overall taxable profit...

[Bluebird]

I mean when i work out my tax voucher per dividend do i take away previous CT to calculate new overall taxable profit...

Tax Vouchers for dividends are your personal tax, corp tax is the tax of your Ltd co - they have no connection with each other.