So i declared a dividend a short while ago and accountant said I'd get a dividend voucher from HMRC. I was wondering though, when can I take out my dividend? Do I need to wait till the year end or something? The dividend was for 12/13, and it's still in the company account. Is it ok to just take it out?
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
When can I take out the dividend
Collapse
X
-
-
-
Originally posted by TheFaQQer View PostI take mine out as soon as I have declared it and printed the paperwork.Comment
-
You don't receive the dividend voucher from HMRC, this will be issued by your company to you (the shareholder) so you should create this yourself or your accountant may do it (we do this for our clients).
Be careful with the paperwork - an interim dividend (voted for by directors rather than the shareholders passing a resolution) is taxable at the date that the money is paid rather than the date that the dividend is declared - for your dividend to be taxed in 2012/13, a resolution will need to have been passed by the shareholders for this before 5th April.
Hope this helps!
CraigComment
-
Originally posted by dmo View PostCool. Do you find you have to use the voucher as well?, and is that at the year end (April)?
Have a look at Declaring dividends: the paperwork - dividend counterfoils and company board minutes for examples - I just googled "dividend voucher template" to see, and someone on here has produced a spreadsheet, which is what I use these days.Comment
-
Originally posted by TheFaQQer View PostI just googled "dividend voucher template" to see, and someone on here has produced a spreadsheet, which is what I use these days.Comment
-
Originally posted by Craig at Nixon Williams View PostYou don't receive the dividend voucher from HMRC, this will be issued by your company to you (the shareholder) so you should create this yourself or your accountant may do it (we do this for our clients).
Be careful with the paperwork - an interim dividend (voted for by directors rather than the shareholders passing a resolution) is taxable at the date that the money is paid rather than the date that the dividend is declared - for your dividend to be taxed in 2012/13, a resolution will need to have been passed by the shareholders for this before 5th April.
Hope this helps!
CraigRhyddid i lofnod psychocandy!!!!Comment
-
Originally posted by psychocandy View Post??? So money has to leave the account in the tax year?
A final dividend (where a resolution has been passed by the shareholders) becomes a liability of the company on the date that the paperwork specifies.
SAIM5040 - Dividends and other company distributions: company law
CraigComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment