Where do I declare dividends for self assessment?

[monkeygeorge]

tax credit

It turns out the tax credit figure is filled in automatically when you enter the dividend value!

[boredsenseless]

A agree no Corporation Tax is declared as per one of mr earlier posts. However you do have to show the tax credits in box 10.16

Alan

Well you don't have to ... just expect trouble if you don't

[Nixon Williams]

I've just had this from my composite company:

"You do not need to enter anythign other than the net dividend.
The corporation tax is accounted for in the company tax return that we take care of."

A agree no Corporation Tax is declared as per one of mr earlier posts. However you do have to show the tax credits in box 10.16

Alan

[monkeygeorge]

tax credits

I've just had this from my composite company:

"You do not need to enter anythign other than the net dividend.
The corporation tax is accounted for in the company tax return that we take care of."

[ASB]

You do not enter corporation tax paid on your personal tax return.

The tax credit should be shown on the dividend voucher, but most composite companies I've come across do not even issue one! However the tax credit value is found by dividing the net dividend by 9.

Alan

If memory serves they changed to online form this year. You input the net dividends in the appropriate box and it automatically does the tax credit itself.

[Nixon Williams]

Thanks again Alan. What are tax credits? Do I have to calculate them or do I get them from my income statement?

And where would I enter Corporation tax paid?

You do not enter corporation tax paid on your personal tax return.

The tax credit should be shown on the dividend voucher, but most composite companies I've come across do not even issue one! However the tax credit value is found by dividing the net dividend by 9.

Alan

[monkeygeorge]

tax credits

Thanks again Alan. What are tax credits? Do I have to calculate them or do I get them from my income statement?

And where would I enter Corporation tax paid?

[monkeygeorge]

tax credits

Thanks again Alan. What are tax credits? Do I have to calculate them or do I get them from my income statement?

[Nixon Williams]

Thanks Alan. 10.12 - 10.14 is for income from savings. I think I need to enter the whole lot in 10.15 (Dividends and other qualifying distributions from UK companies).

George

Sorry, the net dividend goes in Box 10.15, tax credits in 10.16 and the total in 10.17

Alan

[monkeygeorge]

tax return

That's fair enough, and I welcome the result of any scrutiny or investigation. But in the meantime I need to complete the tax return.

Thanks Alan. 10.12 - 10.14 is for income from savings. I think I need to enter the whole lot in 10.15 (Dividends and other qualifying distributions from UK companies).

I didn't realise I can access random sections of the form from the Form Index, I thought you have to follow the sequence of steps.

George

[Cowboy Bob]

I started doing my self assessment online and got to the end without seeing a section to enter dividends. I didn't even see a section for entering interest received on savings.

Am I missing something? I checked the 'Employed' box, as I don't have my own limited company but working through a managed Limited company (through Safe Solutions and now Giant).

Thanks,
George

That might give you a hint as to how HMRC view composite companies (or "managed limited company" as they claim). In other words, they are under heavy scrutiny at the moment regarding their legality since they are in effect an artificial construct with the sole purpose of avoiding tax.

[Nixon Williams]

I started doing my self assessment online and got to the end without seeing a section to enter dividends. I didn't even see a section for entering interest received on savings.

Am I missing something? I checked the 'Employed' box, as I don't have my own limited company but working through a managed Limited company (through Safe Solutions and now Giant).

Thanks,
George

Dividend are declared in boxes 10.13 to 10.15

Alan

[monkeygeorge]

I started doing my self assessment online and got to the end without seeing a section to enter dividends. I didn't even see a section for entering interest received on savings.

Am I missing something? I checked the 'Employed' box, as I don't have my own limited company but working through a managed Limited company (through Safe Solutions and now Giant).

Thanks,
George