Hi,
Do I need to put I aside a percentage of dividends I received for my personal tax bill due in January or can I pay this from funds in my ltd company bank account?
Also, how do I account for this in the p&l and bs?
Thanks.
Replies (2)
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Personal tax
The answer is in the title. The company pays you a dividend, you pay any tax due.
Dividend
But you could pay yourself a dividend to cover the tax due - which won't be until 31 Jan 2018.