What is the deadline to pay a dividend for the current tax year?

[northernladyuk]

It's declared using the proper process for your company e.g. board meeting, minutes, by the end of the relevant tax year.

You can easily back date cheques but most documents have meta-data so you can tell when they were created.

Tough enough to adjust the date on a PC, I guess.

[SueEllen]

Does it have to be paid by 5 April or just declared? Or declared and a cheque written?

It's declared using the proper process for your company e.g. board meeting, minutes, by the end of the relevant tax year.

You can easily back date cheques but most documents have meta-data so you can tell when they were created.

[northernladuk]

I think nluk’s ambition has exceeded his ability in this regard.

Story of my life that is.

[northernladyuk]

Ask your accountant.

I think nluk’s ambition has exceeded his ability in this regard.

Mr B failed to check the jurisdiction in which my accountant operates.

[jamesbrown]

My accountant says 31 December.

I think nluk’s ambition has exceeded his ability in this regard.

[northernladuk]

I think this thread answers your question.

https://forums.contractoruk.com/acco...able-date.html

But if not it will be in these. It's gets asked multiple times around this time of year.

https://www.google.co.uk/search?sour...QA&safe=active

But you should be asking your accountant. Get this wrong and you'll be paying more tax when you didn't need to. An accountant may also look in to Directors Loans and other options for you based on your individual circumstances.

[MrButton]

My accountant says 31 December.

Sounds reasonable.

[northernladyuk]

Ask your accountant.

My accountant says 31 December.

[MrButton]

Does it have to be paid by 5 April or just declared? Or declared and a cheque written?

Ask your accountant.

[northernladyuk]

You should ask your accountant.

I think you can pay it up to (and inc?) 5th April

You can only take what is available as retained profit (not just revenue).

If you have the retained profit but you don’t want to actually pay the money you can declare it and treat it as a directors loan to the company.

But to be clear it’s not the money in the bank it’s the retained profit you can declare as a dividend... I.e with all your liabilities accounted for.

Does it have to be paid by 5 April or just declared? Or declared and a cheque written?

[MrButton]

You should ask your accountant.

I think you can pay it up to (and inc?) 5th April

You can only take what is available as retained profit (not just revenue).

If you have the retained profit but you don’t want to actually pay the money you can declare it and treat it as a directors loan to the company.

But to be clear it’s not the money in the bank it’s the retained profit you can declare as a dividend... I.e with all your liabilities accounted for.

[jmanu]

The post topic is quite self explanatory

I guess this is a particular situation, I started my Ltd a month ago and my client is delaying payments so I am trying to delay paying a dividend before the financial year ends (hopefully my total income would be near £5K by the end of the month...) so I can take advantage of the £5K dividend allowance that applies for the current tax year.

In the other hand I had this question in mind, would it be possible to pay a dividend the 4th of April for instance? Otherwise what would be the "dead line" for doing this?

Apologies for the newbie/silly question.