Dividend paperwork

I am in the camp that dividend paperwork should be drawn up at the time of voting but having recently been advised that this may not be teh case.

If it is the case that amounts drawn as dividend - say a £20k lump sum - is drawn as a dividend - eneterd in the books as a dividend but the minute and dividend warrant is drawn up later - I have been advised that the paperwork can be "regularised" (that's what the lawyer in the acqusition case we were looking at stated) at a later date

So, my question is - and really thinking of this as an advance defence for those clients who use the company money as their own - if it is discussed/minuted/noted in advance that monthly/quarterly - a dividend will be voted of (say) £7500 per quarter or £2500 per month and that this will happen every qtr/mth as long as the company trades on its current profit levels, and that these will be credited to a loan account and this will continue until such time as the subject is revisited  - will that - coupled with the paperwork being drawn up subsequently, suffice should HMRC come knocking.

Any thoughts welcomed

Comments
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What will the subsequent 'paperwork' say?

andy.partridge |
andy.partridge's picture

This might help you...

JAADAMS |
JAADAMS's picture

There is ...

Old Greying Accountant |
Old Greying Accountant's picture

It's no great hardship to do a minute

Paul Scholes |
Paul Scholes's picture

Don't disagree ...

Old Greying Accountant |
Old Greying Accountant's picture