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.
- Can an owner hold company money 302 6
- Account and Taxable Profit 293 17
- Accounting for corporation tax 214 6
- Class 2 NIC 263 5
- Probate services 427 9
- Is self-employment "another job" for PAYE 382 7
- Is Xero payroll as rubbish as I suspect it is? 1,704 37
- Vat payable on van 147 1
- Bookkeeping Rate of Pay 2,829 42
- Invoices raised after company dissolution 242 7
- Community Faux Pas 931 26
- Cash gift from India 139 1
- Is cloud accounting actually pretty pants? 2,310 40
- Windows10 191 4
- Taxi Drivers Cost of Sale 625 24
- Digita Accounts Production Advanced - general perception 475 25
- A thursday afternoon muse 238 2
- Barrister "M25 Patch"? 393 6
- Is HMRC Basic Tools basically wrong? 872 5
- Unusual marketing methods for accountants 797 14
- ACCA Shenanigans subject of EDM 835
- Benchmark accounting software 691
- Members in Public Practice 515
- Sole trader registering for the first time 328
- Oplex Careers CPD 321
- What are HMRC implying? 305
- VAT 258
- My own & spouse's Irish returns & ROS 248
- Payroll manager and the cloud 218
- Is the APN valid 196