Section 419 Tax Repayment

Section 419 Tax Repayment

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If loan account is cleared by paying dividend BEFORE 31 Jan 2006 when will s419 tax be repaid?

If dividend is paid on 6 April 2006 to clear overdrawn position at that date when will tax be repaid?
JS

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By User deleted
11th Nov 2005 18:25

Thanks, once again, Michael
Does anyone, in this day and age, backdate dividends?

Oops sorry, the chartered firm (ICAEW) up the hill offered to backdate subbies written contracts, so perhaps the answer is yes.

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By chaffe
10th Nov 2005 16:16

correct!

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By User deleted
10th Nov 2005 12:16

Thanks Michael
I would prefer that dividend to repay loan was paid 6/4/06 or later.

If I changed "year end" to 30 April 2006 then I presume tax would be repaid 01/02/07.

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By chaffe
10th Nov 2005 12:00

Sec 419 repayment
Loan repaid pre 31/01/06 then tax repaid to company 01/11/06.

Loan repaid april 2006 then tax not repaid untill 01/11/07.

hope this helps

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By chaffe
10th Nov 2005 16:17

correct
Do not though back date the dividend.

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