Description
It has been suggested a dividend without the correct supporting minutes etc will not only be in breach of the Companies Acts but also unacceptable to HM Revenue and therefore it is essential dividend paperwork is correctly dealt with. This position is likely to be more relevant following the taxpayers success in the Arctic Systems case with HM Revenue considering alternative ways in which to challenge dividend payments. The guide sets out in detail Companies Act requirements to be followed, including the impact of Companies Act 2006. It also considers the implications of illegal dividends [including recent case law], alternative methods of payment, eg cheque, loan account, the distinction between interim and final dividends, plus includes example minutes, dividend waiver forms and mandates for both cash and in specie dividends. It also considers situations where HM Revenue may contend dividends should be taxed as remuneration and subject to PAYE tax and National Insurance contributions including commentary on the recent case of P A Holdings Limited.
DTE Payroll & Tax Centre Ltd
The following Accountants Guides are now available in either an emailed PDF format or hard copy, updated with the 2009 Finance Act provisions and all other issues arising to September 2009 and including new titles not previously available. Whilst technical in nature, each guide has been written in an easy to understand manner aimed at the busy independent practitioner wishing to benefit from practical assistance in dealing with client matters rather than a theoretical analysis of issues rarely met in real life. Each guide costs £45 plus an additional £2 per guide to cover despatch and administration (please note emailed versions incur VAT in addition at 17.5%), with significant discounts available for multiple orders. To date more than 5000 firms have benefited from previous editions of these publications so if you are unsure as to their value, a quick word with a local contemporary may well prove invaluable.
