micro entity accounts - dividend

Where to list dividend payments in micro entity accounts

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Helping a friend with his micro entity accounts but there does not appear to be anywhere to list the dividend payment. Has anybody else encountered this problem and how it is resolved.

Also, his company were acting as a trustee for a childs trust account; the money was held by his company. The funds have now been paid out, again how is this detailed on the micro entity account

Thank you   

Replies (8)

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By ireallyshouldknowthisbut
20th May 2020 14:38

(1) unless you are a practicing accountant, don't ever, ever, ever, EVER 'help a friend' or you will get a in pickle and end up with considerable potential liability.

(2) your question makes no sense.

(3) the trustee point sounds like your client has not got a clue.

STOP RIGHT NOW.

say "I do not do this type of work, I cannot help with it"
say "please appoint an accountant who does this sort of thing as a day job"

Go enjoy the sunshine.

Thanks (3)
RLI
By lionofludesch
20th May 2020 14:03

Alarm bells are ringing.

Has your friend thought of engaging an accountant ?

Thanks (2)
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By Tax Dragon
20th May 2020 15:10

Your friend's newly-appointed accountant might have some bad news for him/her if the child in question is his/hers. But that's only a "might", and it's only minor [@Lion... my intentional puns are soooo much worse than my accidental ones!]

However, he/she is storing up far more trouble (and consequent seriously bad news) for him/herself unless you (and he/she) follow ireally's excellent advice above.

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Red Leader
By Red Leader
20th May 2020 16:57

Do you have a friend you can ask?

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Replying to Red Leader:
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By Tax Dragon
20th May 2020 17:08

Ha! Now you've brought me back here I see "his/hers" etc was ambiguous. (I'm rubbish at English!) I meant the friend's (child); not the accountant's! (Recognising that the two are not mutually exclusive, but I'll let that little ambiguity remain.)

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Replying to Tax Dragon:
Red Leader
By Red Leader
20th May 2020 22:20

You're too high-falutin' for me TD, it was just a riff on the "friend" meme that crops up on here regularly. Now you've made me explain my lame joke, it's completely spoilt it. Drat!

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Replying to Red Leader:
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By Tax Dragon
21st May 2020 05:38

I doubt I'm the only one that enjoyed your joke, unspoilt.

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By Neil Douglas
21st May 2020 10:52

If you are preparing Micro Entity accounts under FRS105 there is no details given on the reserves only a total reserves figure so the dividend will not be separated out anywhere.

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