Dividend 10% Tax Credit
A limited company is going to pay a 10,000 Dividend to its one and only shareholder. The dividend meets all the legal requirements etc.
The dividend would attract a 10% tax credit being £1,111.11.
I have the following questions
1. Is the 10% tax credit actually paid over to HMRC, or is it only used as a notional figure to reflect the fact the dividend has been paid out of post tax profits?
2. Is the full dividend of £10,000 paid over to the shareholder?
3. In the companies accounts the £10,000 would be the figure recorded as the dividend payment?
Many thanks for your help
- Any Scottish members out there? 8,028 303
- Mortgage deposit Gift 52 2
- Shutting down a company with creditors 1,094 15
- Has HMRC got powers to do this? 300 3
- New Client in dispute with old accountant 572 11
- Paying tax in Angola and uk? 94 1
- EC sales list 48 1
- planning to be self employed bookkeeper what do i need to do before i start? 325 5
- Repairs after a rental business ends 379 11
- ICPA-Scotland 171 2
- Shutting down losing Directors Loan 209 1
- Declined for business bank account 373 6
- Help with Mortgage Application? 535 7
- Disclosure of pending convertible loan notes? 223 10
- Standard 'email' template system 921 14
- How to complete annual VAT return online? 241 4
- Irish VAT Deferred payment 113 1
- Circular shareholding 273 6
- Starting as sole trader from abroad 216 6
- business card address 351 8
- Raiders of the Lost Tax File 1,125
- Chartered Accountant in County Down N.Ireland 369
- IPP (International Pension Plan) income 301
- National Insurance 275
- valuation of intangible asset FRS10 and FRS20 241
- Payments on account coded out?? 236
- Cass 5 FCA Client Money Software recomendation 226
- Unnecessary S9A Enquiries 193
- Non Resident 193
- Franchise income and costs 180