Illegal and unlawful dividends post-pandemic: What's the difference?
Jennifer Adams considers whether there is a difference between an 'illegal' and an 'unlawful' dividend and warns that we may see more of such dividends post-pandemic.
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Tom7000 template refers to S455 at 25% whilst it was correct at the time the comment was made it is now out of date and should say 32.5%
There are going to be lots of them, with inadequate sums to pay the s455
PAYE and NI costs could be even higher.
Not everyone will have an accountant and spend the BBL. Obviously they will be oblivious to S.455.
I think it is vital that accountants review their client books at an early stage where a BBL has been taken and warn them of the implications with S.455 and Benefit in Kind
Worry about when I see it
Nothing new, rules have not changed. Companies have always been able to borrow money.