Have a situation where the directors and shareholders of a close have historically taken voted dividends by way of a direct transfer to their personal bank accounts in accordance with the dividend vouchers.
2 of the 5 directors' for personal reasons would prefer to have their dividends credited to a their current account with the company. ( no cash cahanging hands)
The balance on their current account is nil or small cr balance.
The questions are:
Is it within the law to do so?
If it is than can only a propoetion of the director/shareholders opt to have their dividends credited to their current account?
Any response would be welcome.
- How will auto enrolment affect accountants? 1,475 41
- Purchase of shares and goodwill 140 3
- Directors Remunerations and Employees on CT600 87 1
- Anyone Heard of This Outfit? 259 1
- How can I tell what returns are outstanding on HMRC online? 232 3
- Practice management - that old chestnut....... 1,233 19
- Suppliers for Online Card Payments? 364 6
- Go Cardless 383 10
- Self assessment tax arrears 328 3
- Mehjoo 334 2
- Tax Return Member LLP 150 1
- How to prove income for a mortgage if you have no SA302s 406 5
- Amazon Fees, Sage VAT/Tax code T20? 198 4
- SA302 345 7
- US Employment Income - Double Tax Treaty 296 13
- Bringing money to Uk 300 4
- Capital Allowances on Furnished Holiday Lets Business 219 4
- Hmrc software 262 3
- What expenses can be claimed after a move to Cornwall? 197 1
- Hosted email exchange 192 5
- Xtuple 521
- Qtac payroll for bureau 357
- Confused - Professional Association a Mutual trader, or not? 300
- Industrial & Provident Societies 294
- Data transfer from Sage Line 50 to VT Transaction+ 238
- VAT Payable on Expenses for Non-VAT Registered Ltd Co 213
- Why would HMRC offer to close an investigation by contract settlement 211
- Domain name sale and limited company 182
- CIS schemes 179
- Director legal fees in loose connection to the company 155