Dividends for Sole Director Company
A lot of posts on here have debated the issue of directors from small sole trader companies drawing funds during the year as dividends but leaving all the paperwork to the end of the year.
Has anyone had any actual dealings with the revenue on this matter as often the paper trail is sketchy and most directors would argue that the drawings we legal at the time taken.
If the funds were available to distribute in the company I can't see why it could be argued that it is a loan rather than dividend - obviously when more that one director is involved then things begin to get more complex.
I was hoping someone with actual experience of this being challenged could share their experience.