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Do i need to declare Dividends?

Shareholder got £2.5k Divs but covered within BRB band

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Do i need to self-assess for dividends paid to a shareholder, about £2.5k. I feel that no need to self assess as its with her BRB and no tax due.

What do other experts say?

 

Replies (21)

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Portia profile image
By Portia Nina Levin
11th Sep 2017 10:27

Is she a company director?

And when you say "other experts", experts other than whom?

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JC
By A_non
11th Sep 2017 10:55

@portia Yes director.

sorry ref to expert was a flippant remark - no other involved

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Replying to A_non:
Portia profile image
By Portia Nina Levin
11th Sep 2017 12:18

Then you should know that HMRC require that all directors file self-assessment returns.

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Replying to Portia Nina Levin:
RLI
By lionofludesch
12th Sep 2017 10:55

Wearing a bit thin now, Portia.

Even though it's still on their website [sigh].

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Replying to lionofludesch:
Portia profile image
By Portia Nina Levin
12th Sep 2017 10:32

All the time it's out there, I shall continue to remind people. There will always be one to take issue with me.

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Replying to lionofludesch:
Portia profile image
By Portia Nina Levin
12th Sep 2017 10:35

£8,112!

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By Tim Vane
11th Sep 2017 11:22

Are there any situations where dividends of 2.5K can lead to a tax charge?
Yes, of course.
Are any of those situations likely to result in a requirement to file a self assessment return?
Yes, some of them.
Is there anywhere near enough information in the OP to give an answer in this particular case?
No, of course not.

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Replying to Tim Vane:
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By andy.partridge
11th Sep 2017 11:27

Tim I think you want to give the full english breakfast reply when the OP only wants continental.

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Replying to andy.partridge:
Portia profile image
By Portia Nina Levin
11th Sep 2017 12:30

How can anybody possibly not want a little black pudding?

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Replying to Portia Nina Levin:
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By andy.partridge
11th Sep 2017 13:19

I can't condone cannibalism.

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By Andrew Dunbar
11th Sep 2017 11:45

Yes this is correct

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Replying to Andrew Dunbar:
Portia profile image
By Portia Nina Levin
11th Sep 2017 12:31

I can think of (the only) one circumstance in which it is not.

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By Paul Hawes
11th Sep 2017 13:32

Student loan?

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By Matrix
11th Sep 2017 14:07

You may wish to check that she hasn't received a notice to file a tax return.

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Replying to Matrix:
Portia profile image
By Portia Nina Levin
11th Sep 2017 15:25

Bing!

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Replying to Portia Nina Levin:
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By andy.partridge
11th Sep 2017 15:42

Am I dreaming? Really unhappy with Christmas references in September.

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Replying to andy.partridge:
By mrme89
11th Sep 2017 16:08

Only 105 days away. Preparation is key.

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Replying to andy.partridge:
Portia profile image
By Portia Nina Levin
12th Sep 2017 10:33

Cheshunt roasting on an open fire!

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By SteLacca
11th Sep 2017 21:21

Personally, I suggest reading S.7. All your questions will be answered.

EDIT: Subject to S.8 as alluded to above.

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RLI
By lionofludesch
11th Sep 2017 22:04

Don't rely on these answers next year.

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By D V Fields
11th Sep 2017 22:17

If HMRC have issued notice to deliver a tax return to the recipient of the dividend then yes the dividend should be declared on the return. If HMRC have not requested a tax return be delivered then if that tax payer has untaxed income as a result of all their taxable incomes and allowances then HMRC should be notified as such and ultimately a tax return will be required; but if there is no taxable income as result of same then no need to notify HMRC. However only you know the answers to those questions.

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