6 April deadline 6 April deadline - Page 3
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  1. #21

    Still gathering requirements...


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    Quote Originally Posted by Lance View Post
    it's academic now. but....
    why would taking £125 extra in dividends, on top of the presumaby c. £40k you've already taken, have any impact on the cost of your wife's SA?

    What have you NOT told us?
    She was recently gifted shares and so she would require a self assessment for the 19/20 tax year to account for the tiny dividend payment.

    My accountant would charge for preparing that so it wouldn't be worth it.

  2. #22

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    Quote Originally Posted by concord View Post
    She was recently gifted shares and so she would require a self assessment for the 19/20 tax year to account for the tiny dividend payment.

    My accountant would charge for preparing that so it wouldn't be worth it.
    My accountant does my SA.
    I do the wife's.
    It's really simple as I simply lift the dividend number from my SA, reduce it to a 1/4 (she has 20%) and stick that in. It takes 15 minutes hence I won't pay the accountant £100 for the privelige.
    See You Next Tuesday

  3. #23

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    Quote Originally Posted by concord View Post
    She was recently gifted shares and so she would require a self assessment for the 19/20 tax year to account for the tiny dividend payment.

    My accountant would charge for preparing that so it wouldn't be worth it.
    A common misconception. If the extra dividends would not result in a tax liability (e.g. they are within any unused personal allowance or the £2k dividend nil-rate band) and she has no other reason to file a tax return then she would have no obligation to notify HMRC or complete a tax return.

  4. #24

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    Quote Originally Posted by TheCyclingProgrammer View Post
    A common misconception. If the extra dividends would not result in a tax liability (e.g. they are within any unused personal allowance or the £2k dividend nil-rate band) and she has no other reason to file a tax return then she would have no obligation to notify HMRC or complete a tax return.
    I did think about that but it was late. Even if it wasn't the case, I would have had a long time to figure out how to submit her self assessment.

    Lesson learned.

  5. #25

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    Quote Originally Posted by PK2 View Post
    Going to follow up with my accountant but really worried I've screwed something up now
    Thanks everyone!

    I got hold of my accountant after 6 April and he reassured me that all the dividends I declare are meant to be interim anyway, as it's a more flexible approach (and that final dividends would not be in respect to 6 Apr anyway, but rather to the company's yearend date).

    That automatically solves my next issue of declaring a dividend twice in a row.

  6. #26

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    Quote Originally Posted by PK2 View Post
    Thanks everyone!

    I got hold of my accountant after 6 April and he reassured me that all the dividends I declare are meant to be interim anyway, as it's a more flexible approach (and that final dividends would not be in respect to 6 Apr anyway, but rather to the company's yearend date).

    That automatically solves my next issue of declaring a dividend twice in a row.
    So on to the next task of finding a new accountant and bank account......
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  7. #27

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    Quote Originally Posted by northernladuk View Post
    So on to the next task of finding a new accountant and bank account......
    Hey, I already switched accountants half-a-year ago, and these ones have been recommended to me by a workmate, they're cheaper, and I sometimes see their ads on this forum.

    Cater Allen, yes....although I can live with 1.5-day transfers. Who knows how long I'll stay contracting now days.

  8. #28

    Contractor Among Contractors

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    Knew it was Cater Allen just by the description of the delay

    There are real banks with actual faster payments that are instant, that are free you know...

    With a possible recession coming up I'd hate to be with anyone whose transfers could invoke squeaky bums if it came down to it..;

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