End of Year v Interim Dividend while waiting for accounts

[Acme Thunderer]

I've just passed Company End of Year and I'm about to send off all the company paperwork to the Accountant for him to do the end of year accounts, but this brought a question to mind

When I take dividend out, before the accounts are finalised, I assume it would as an interim dividend for Company year 2011/2012. Is this correct?

Also when the accounts are complete do I need to declare an End of year dividend for 2010/11?

I have more than enough money in the company to cover the Dividends and all my tax liabilities its just a matter of keeping my dividend paperwork correct in case HMRC ever came looking.

Thanks

[Waldorf]

I assume that your year end os August? So my understanding is that any dividends you declare now would be included in the next accounting year, ie to 31st August 2012.

[Greg@CapitalCity]

When I take dividend out, before the accounts are finalised, I assume it would as an interim dividend for Company year 2011/2012. Is this correct?

So you are taking a dividend after your company year end? In which case, yes, this dividend would be shown in the 2011/12 accounts. The idea is you know what retained earnings you have in your business from management accounts, enabling you to satisfy yourself your company has sufficient funds to pay a dividend.

Also when the accounts are complete do I need to declare an End of year dividend for 2010/11?

No. Most contractors only ever take interim dividends - there is no requirement to declare an end of year dividend.