I've always been taught that if you waive a dividend, you waive full entitlement to that dividend.
For example: 2 shareholders, £50,000 dividend proposed. 1 shareholder takes full entitlement, £25,000. The other shareholder only wants to take £10,000. Can he put a partial waiver in place for the remaining £15,000.
I've just been told it is legal to do this and HMRC would have no query but I dont agree.
Has anyone else ever prepared/signed a partial dividend like this?