Further to my recent question (thanks for all the replies) I thought it was useful to provide the following example.
I'm still struggling with this so any help with the following example would be much appreciated. I looking for any amount of the Sept 19 dividend that can be allocated to the 31/03/19 year end balance.
31/03/2019 B/fwd (25,179.73)
Apr-19 Various payments (3,885.05) (29,064.78)
Apr-19 Net Pay 1,757.86 (27,306.92)
May-19 Various payments (7,716.93) (35,023.85)
May-19 Net Pay 1,757.86 (33,265.99)
Jun-19 Various payments (1,470.00) (34,735.99)
Jun-19 Net Pay 1,757.86 (32,978.13)
Jul-19 Various payments (7,600.00) (40,578.13)
Jul-19 Net Pay 1,757.86 (38,820.27)
Aug-19 Various payments (3,450.00) (42,270.27)
Aug-19 Net Pay 1,757.86 (40,512.41)
Sep-19 Various payments (7,000.00) (47,512.41)
Sep-19 Net Pay 1,757.86 (45,754.55)
Sep-19 Dividends 35,000.00 (10,754.55)
Oct-19 Various payments (8,409.00) (19,163.55)
Oct-19 Net Pay 1,739.06 (17,424.49)
Nov-19 Various payments (7,450.00) (24,874.49)
Nov-19 Net Pay 1,739.06 (23,135.43)
Bed and breakfasting - my understanding is that, when a loan in excess of £10k is repaid by the director, no further loan over this amount can be withdrawn within 30 days. This does not appear to have happened in this case.
Where a loan of over £15k has been made to a director of the company, and before any repayment is made there is an intention to take a future loan of more than £5,000 which is not matched to another repayment, then the bed and breakfast rules apply. It looks like this would apply here and the total further loans after 31/03/19 exceed the balance at 31/03/19 so there would be no repayment to match to the 31/03/19 balance reducing the s455 charge - correct?