Paying dividends in Euros

Can a dividend voucher be expressed in Euros?

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Hi all,

Not come across this situation before so appreciate some guidance.

Director of PSC has been working in Holland through his company for a Dutch customer. The Dutch customer has paid into the company's Euro account. The director (also sole shareholder) wants to pay 25K Euros as a dividend, which will be credited to his UK account.

Presumably the dividend voucher mustn't be prepared in Euros, and should convert the payment to GBP. Will this simply be the amount credited to the UK account using the exchange rate used by the bank (and ignoring bank conversion charges, etc.). Is this correct?

Thanks.

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By nrw2
30th Mar 2023 11:28

Just declare the dividend in GBP and pay the EUR equivalent at the prevailing exchange rate.

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