P11D vs Accountant

[blacjac]

Yes - of course we arrange cover, but as I said, advising clients helps plan the workload. Goes back to my point about not being able to please everyone all the time - an earlier poster on this very point appeared annoyed that another member of staff picked up the email sent to the person on holiday.

That's not what the OP said.....

[simondolan]

As I read it .... Gros was annoyed it took a few days for another member of staff to process the mail sent to the person on holiday. He also clearly stated the person had the tone "leave me alone and stop asking awkward questions".

I stand corrected.

I'd still dearly like to receive an email from anyone on here though who has had issues - I can't really do much without knowing who you are!

[Gros]

I stand corrected.

I'd still dearly like to receive an email from anyone on here though who has had issues - I can't really do much without knowing who you are!

Simon, I appreciate you want to do what you can to help out. But not all your clients hang out on this forum all day, and know that you are here to help out if a problem arises.

I only found this forum a bit later on, and since I did it's been a mine of endless good advice. In fact all the things I'm learning about sorting my own accounts are coming from the helpful people here who are prepared to write PMs to me in some detail - far more detail than I ever received for a service I previously paid for.


My point about the dividends was:

In your opinion, should your advisers simply be telling a new contractor how much to pay themselves monthly, or should they not be explaining that dividends can be paid whenever you want, and how to arrange the paperwork to vote the dividend? I had no knowledge of this at all. Having looked at the starter pack I received, one of the files does mention 'vote a dividend' but there's nothing about how you go about doing that. So I now have to go back for a year and arrange all the meeting notes where the dividend was agreed, and write the appropriate dividend vouchers.

[lambrini_socialist]

In your opinion, should your advisers simply be telling a new contractor how much to pay themselves monthly, or should they not be explaining that dividends can be paid whenever you want, and how to arrange the paperwork to vote the dividend? I had no knowledge of this at all. Having looked at the starter pack I received, one of the files does mention 'vote a dividend' but there's nothing about how you go about doing that. So I now have to go back for a year and arrange all the meeting notes where the dividend was agreed, and write the appropriate dividend vouchers.

yikes, i didn't know i had to do this (i've just started up with SJD). time for some research...

i'm sending my SJD accountant "anxious n00b questions" almost daily at the moment, and i'm getting quick and clear responses - absolutely no complaints so far.

[malvolio]

a) It's probably not worth pointing out that how much divi you pay is your decision, not your accountants. All they can tell you is how much the maximum payable is, and nobody in their right mind pays that out anyway. If you need that level of handholding, use an umbrella.

b) You only pay one dividend a year, as far as HMRC is concerned. So how many notes and sets of minutes do you suppose you need? (Hint: the answer is slightly less than two...)

I will admit SJD are a little expert-friendly at times, but we're supposed to be professionals and I don't have a problem with them.But that's just me!

[Lewis]

b) You only pay one dividend a year, as far as HMRC is concerned. So how many notes and sets of minutes do you suppose you need? (Hint: the answer is slightly less than two...)

I declare dividends roughly quarterly. I have always been told (by numerous accountants) to write board meeting minutes and dividend vouchers each time I declare one. I also include evidence that sufficient profit exists in the company at that time. So I have usually have four sets of dividend 'documentation' for each year.

So, what format does your "aggregated" dividend information take? Do you specify the dates that the meetings took place over the year? Do you show the amounts paid over the year and the dates paid? How do you show that profits existed -at the time- if you don't do any documentation until the end of the year.

[Lewis]

p.s. <removed>

The backdating of dividend paperwork would not be acceptable to HMRC. They may also argue that even if a dividend at the year end covered a number of payments during the year, those payments were outstanding director loans until the dividend was declared. This has unfortunate tax implications which are best avoided.

[THEPUMA]

There is a further problem here in respect of the timing of the dividend. If a dividend isn't minuted correctly, it isn't a dividend. If you minute it today, it is declared today and you may not have utilised your allowances in the previous tax year, so it could cost you 25% of the dividend paid.

This is basic stuff that should be explained to you, along with templates for minutes and dividends, when you first start with your accountant.

ASB referred on another thread to the problems he had at an employer compliance review due to problems with dividend paperwork.

[THEPUMA]

p.s. <removed>

Great minds think alike!

[TheBigYinJames]

Not often you see the malvolio dented.