Post Date Paper Dividend

[Wanderer]

There was always enough money in the account to cover what I had paid myself. The issue is that a dividend was never declared in the given financial year.

Now it looks like I'm right in the sh1t.

Your mistake was admitting it to the accountants. They are duty bound to do things the legal way and they can't condone backdating your paperwork. But as others have said, you should check all your paperwork, it's not uncommon for people to "misplace" their dividend paperwork and find that it was done after all....

[northernladuk]

Why bother with details like this.

To be honest, I tend to do the same thing. At the end of the year, I then work out with my accountant what should have been salary and then dividend. If I've gone over, then it's a loan. If I've gone further than that we sort something else out.

NL - Honestly. That's why I pay my accountant. To sort this stuff out for me. (Obviously I do keep a fairly good rough estimate of where I am)

You answered your own question. You do not need to bother with that comment as you keep a grasp on your finances so it isn't an issue. For someone that is 20K out in a year they need to sit up and think about their responsibilities.

[pacharan]

You answered your own question. You do not need to bother with that comment as you keep a grasp on your finances so it isn't an issue. For someone that is 20K out in a year they need to sit up and think about their responsibilities.

How am I 20k out? I had the profit in the co. account, I just didn't do the dividend paperwork. My situation sounds just the same as MF's.

[SueEllen]

How am I 20k out? I had the profit in the co. account, I just didn't do the dividend paperwork. My situation sounds just the same as MF's.

Why didn't you do the dividend paper work?

It's not exactly a hard thing to do. Links to templates can be found by searching this site or just by googling.

Your accountant is following the law correctly by refusing to get involved if you want to back date your paperwork. Why should an accountant put their professional reputation and their practise at risk because one customer is enable to do such a small thing for themselves?

[Scrag Meister]

How am I 20k out? I had the profit in the co. account, I just didn't do the dividend paperwork. My situation sounds just the same as MF's.

I had a similar situation during 2009/2010 where I had left a standing order active (approx £600 per month) from within the 2 year expenses period.

My accountant rang me at year end and told me to declare a dividend to cover it, to avoid a directors loan.

Job sorted.