Self assessment dividend question

[WTFH]

I paid myself a small dividend at the end of that year

If it's genuinely only a small dividend, then just leave it in this year.

If you're being economical with the truth, then other posters have offered you the right advice.

[jamesbrown]

As others have said, the declaration date is what matters. A delay in payment is just a matter of accounting w/r to the DL account.

Don't try to edit your dividend paperwork retrospectively.

[Craig@Clarity]

What if the Director isn't a Shareholder? [emoji12]

Then you'd be correct. I was just stating it for the benefit of the OP that's all.

[Scruff]

Debit Dividends, Credit DLA

What if the Director isn't a Shareholder? [emoji12]

[Craig@Clarity]

Yes. The payment date, and the dividend declaration date can be different. The minute in which you declare the dividend will have the date of the declaration. This is all subject to the usual rules surrounding dividends.

A journal entry

Debit "Dividend Paid"
Credit "Shareholders for Dividend"

With the amount.

On payment, allocate the payment to "Shareholders for Dividend".

Debit Dividends, Credit DLA

[Craig@Clarity]

Hi,

I'm coming to do my self assessment for 2019/20. I am a director of my own company, so I've paid myself dividends periodically.

I paid myself a small dividend at the end of that year although I just realised I paid it after my self assessment year end (by 30 days). This means it will now be accounted for in my 2020/21 self assessment.

Is there any way I can ensure it'll be accounted for in the 2019/20 self assessment year when I meant it to be, or does it have to be accounted for in the year it was paid?

Thanks

What does your dividend document say? The declaration date is the date that it counts for self assessment tax purposes. The dividend payment date is the earliest date it can be paid which can be either the same date as the declaration date or later.

[northernladuk]

Yes

No.

[Scruff]

Yes. The payment date, and the dividend declaration date can be different. The minute in which you declare the dividend will have the date of the declaration. This is all subject to the usual rules surrounding dividends.

A journal entry

Debit "Dividend Paid"
Credit "Shareholders for Dividend"

With the amount.

On payment, allocate the payment to "Shareholders for Dividend".

[GhostofTarbera]

Self assessment dividend question

No

Yes


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[chomps]

Hi,

I'm coming to do my self assessment for 2019/20. I am a director of my own company, so I've paid myself dividends periodically.

I paid myself a small dividend at the end of that year although I just realised I paid it after my self assessment year end (by 30 days). This means it will now be accounted for in my 2020/21 self assessment.

Is there any way I can ensure it'll be accounted for in the 2019/20 self assessment year when I meant it to be, or does it have to be accounted for in the year it was paid?

Thanks