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Sorry, I have already checked. My mistake - You should include the value of BIK in P11D (total cost before deduction of VAT). You should prepare paperwork: The board minute to pass "wholly and exclusively" test.
e.g.:
Meeting of the Board of Directors of XYZ Limited on...at....
It was resolved...
Do have or not to have?
Do have or not to have?
Sorry for late respond. I was away. It is all about director's salary. When paying 5035 per year and rest of profit withdraw as dividends. In case of tax control, taxman can argue that salary was not enough to cover life expenses and can insist...
..under condition, that your company will book gym facility solely for employees (e.g. pool 19:00 - 20:00). As a director, it is enough when you pay for personal instructor. ..then If I remember well - no need to put on P11 as BIK (but not sure - need to be checked)
I was thinking about Director's service agreement as a equivalent of employment contract where instead a word "salary" there is a word "fee"...and a fee may be small, smaller than NMW (that I read in tax advice by Indicator). They say that where in contract there is a word "fee" and you are...
Hi,
Where can I find cheaper Director's service agreement? I went through a few websites and they charge around £50 per document. Is there any cheaper place to buy it?
Regards
Liley
I am working on dividend payments and have one more question to you - Smart Guys:
There were few withdrawals every month (small amounths - personal expenses). Sometimes in the distance of 2-3 days. Can I make just one voucher and one minutes up front e.g. every month and this would cover all...
Yeah...I did enjoy... Only one month left - will finish on Monday.
One more question:
There were few withdrawals every month (small amounths - personal expenses). Sometimes in the distance of 2-3 days. Can I make just one voucher and one minutes up front e.g. every month and this would cover...
Thank you:) It made me clear now and I can see, that the new rules are not good for those who made a bigger profit in first part of FY (until 31 march 2006) and smaller in the second part of FY. The other way round is OK. As whole profit of AP will be splitted proportionally among these two FYs.
Hi,
Great forum. Just discovered few weeks ago.
I am just doing paperwork for dividends (yeah, I know I should've done it months ago but I am just back to company as secretary and book-keeper).
I am doing calculations on distributable profits for interim dividends paid. As until 31 march 2006...