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.
- HMRC Penalties - are they enforceable? 140 9
- Letter from HMRC telling me client passed away 1,646 24
- new capital structure ltd with investors 280 4
- Anyone use Xero for estate agent clients? 89 1
- Who can I refer leads to? 254 6
- Companies House 293 4
- RTI - EPS - ??? 121 2
- Contractor/ Ltd Co/with pension 105 2
- Minutes & Dividend Vouchers 338 9
- Non-reporting of BIK - income tax liability 116 1
- I hate HMRC's voice recognition system - The Inept Interrogator 219 6
- PAYE Refund Farce At HMRC 672 8
- Can a director pay for their childs tuition through the company 662 14
- Benefit of my ACCA membership to my Non Qualified Employer 151 1
- Donaldson v HMRC - result?? 677 7
- Can a sole trader carry back losses to reclaim some tax paid from previous years? 487 5
- SA tax assessments 171 2
- Director self assessment 412 16
- Sage Import Data 183 4
- Late payroll submission on sage 241 2
- DTR : TIOPA 2010 Section 42 432
- CTA study material 391
- Sect 102 TMA 1970 291
- Sage Forecasting - Print filename 268
- Pre incorp expenses 244
- Relief on French Tax Deposit? 220
- Anyone have clients that use Pay4Later to offer customers credit? 217
- Slight twist on employment related securities 198
- How to claim additional losses after mistake in CT return 150
- What is the tax position if I am working overseas but via a UK agency? 144