Reply to: Dividend today

[Platypus]

It doesn't have to leave the company on the date it's declared, does it?

An accountant told me, yes, unless it's paid into the DLA, ratified by EGM.

[Scruff]

It doesn't have to leave the company on the date it's declared, does it?

The effective date of the dividend is the date on which it is declared in the Minutes and the Dividend Voucher (which logically, should be the same).

[d000hg]

Me take a dividend prematurely? And miss out on the amazing interest rate offered by Cater Allen?

It doesn't have to leave the company on the date it's declared, does it?

[I just need to test it]

Me take a dividend prematurely? And miss out on the amazing interest rate offered by Cater Allen?

[Platypus]

I'm not asking if you could get away with it, I'm just interested if it's legal.

No, it's not.

[d000hg]

Who is going to know, and how, whether you printed the voucher at noon Wednesday or midnight?

Although, as it happens, one accountant told me that for payment of dividends to the directors' loan account, you also need to hold an EGM and have signed minutes. But hey, it's just another piece of paper with a date printed on it.

I'm not asking if you could get away with it, I'm just interested if it's legal. Some things can be legitimately back-dated, I don't know if the decision to issue a dividend is one of them.

[Platypus]

I almost suggested that; is it hugely illegal?

Who is going to know, and how, whether you printed the voucher at noon Wednesday or midnight?

Although, as it happens, one accountant told me that for payment of dividends to the directors' loan account, you also need to hold an EGM and have signed minutes. But hey, it's just another piece of paper with a date printed on it.

[chopper]

I almost suggested that; is it hugely illegal?

"So I wrote the dividend cheque on $this_date but didn't cash the cheque until $that_date".

[d000hg]

Just backdate your voucher accordingly and apply the correct date to the credit in your directors account.

I almost suggested that; is it hugely illegal?

[PurpleGorilla]

Chimps too, so I heard

Extra money going to the boomers.

Pensioners certainly. 2.9% state pension increase thanks to the triple lock...



Still they build Britain into what it is today...

[PurpleGorilla]

Dividend today

Only 9 left in stock...

https://www.amazon.co.uk/dp/B0036HMX..._Nphvwb6M5KVG2

[northernladuk]

"..... according to HMRC records, it was brought to the government's attention that dogs have been avoiding all taxes for far too long, it is only fair that we all share the burden, so dogs will now be taxed at 50% of all future earnings...."

Bah, they must have read my thread.

http://forums.contractoruk.com/accou...ml#post2171680

That's going to impact a number of people it appears, even if they work in Belgium.

http://forums.contractoruk.com/accou...k-maybe-5.html

http://forums.contractoruk.com/accou...-security.html

Soooooo, if you have a UK LTD, send your employee (you) to Belgium to work clutching his LIMOSA paperwork, he will have to pay tax and SS based on his local salary. Your company however, having its centre of economic interest in the UK will only have to declare its income to Gordon and his mates. You of course may have to demonstrate that this is so, but assuming your wife/daughter/son/partner/dog is also a director, and you issue an odd invoice for some other work to a.n.other company, you can then show that indeed your UK LTD is in fact a bona fide UK based company with a clear centre of economic interest in the UK. You may however, have problems if you are a sole director, live in a bedsit, and never do any other work.

[MrMarkyMark]

Double tax hit for dogs?

Chimps too, so I heard

Extra money going to the boomers.

[PurpleGorilla]

Snippets from the speech being leaked:

".....any profit above a standard salary of £25kpa will be subject to 100% taxation, in perpetuity. This will apply to all PSC directors, their families, their bits on the side, their dogs and their relatives going back from 25 years of the date of this review....."

"..... according to HMRC records, it was brought to the government's attention that dogs have been avoiding all taxes for far too long, it is only fair that we all share the burden, so dogs will now be taxed at 50% of all future earnings...."

".....none of these measures shall apply should a significant donation to the Conservative party be made by the PSC, by the end of the tax year...."

Double tax hit for dogs?

[SpontaneousOrder]

Just backdate your voucher accordingly and apply the correct date to the credit in your directors account.