corporation tax money on dividend

[mitulkumar]

Dear All,
I was working through my private limited company and was taking dividend as payment. I need 1 thing to know. I often took money from my business account as I needed it. So there wasn't much money left in my business account. So if i have taken £1000 9 times during 9 months corp. tax on it will be around £2000. but in my business account money wasnt there of corp. tax as i was taking money from ATM card of the bank. but by the end of financial year of my company i have paid back all the money i have taken from company and will pay corp. tax in full amount of all the dividend i have taken.

As corp.tax money wasnt there in my business account after taking dividend, will that dividend money will be accpeted by UKBA for visa extension?

if anyone knows about this please guide and help me.

[tier1_applicant]

Dear All,
I was working through my private limited company and was taking dividend as payment. I need 1 thing to know. I often took money from my business account as I needed it. So there wasn't much money left in my business account. So if i have taken £1000 9 times during 9 months corp. tax on it will be around £2000. but in my business account money wasnt there of corp. tax as i was taking money from ATM card of the bank. but by the end of financial year of my company i have paid back all the money i have taken from company and will pay corp. tax in full amount of all the dividend i have taken.

As corp.tax money wasnt there in my business account after taking dividend, will that dividend money will be accpeted by UKBA for visa extension?

if anyone knows about this please guide and help me.

You can not take dividends unless you have profits (after accounting for corp. tax etc).
Additional amount that you have taken will be director's loan which you have paid back.
You need to talk to your accountant to get this sorted out.

[mitulkumar]

Dear All,
I was working through my private limited company and was taking dividend as payment. I need 1 thing to know. I often took money from my business account as I needed it. So there wasn't much money left in my business account. So if i have taken £1000 9 times during 9 months corp. tax on it will be around £2000. but in my business account money wasnt there of corp. tax as i was taking money from ATM card of the bank. but by the end of financial year of my company i have paid back all the money i have taken from company and will pay corp. tax in full amount of all the dividend i have taken.

As corp.tax money wasnt there in my business account after taking dividend, will that dividend money will be accpeted by UKBA for visa extension?

if anyone knows about this please guide and help me.

You can not take dividends unless you have profits (after accounting for corp. tax etc).
Additional amount that you have taken will be director's loan which you have paid back.
You need to talk to your accountant to get this sorted out.

Hi
Thanks for your reply. Yes my accountnat will sort out the loan and all.but just let me know if you know that will my dividend will be accepted or not as i have taken dividend on profit only and will be shown in yearly account summary

[tier1_applicant]

Dear All,
I was working through my private limited company and was taking dividend as payment. I need 1 thing to know. I often took money from my business account as I needed it. So there wasn't much money left in my business account. So if i have taken £1000 9 times during 9 months corp. tax on it will be around £2000. but in my business account money wasnt there of corp. tax as i was taking money from ATM card of the bank. but by the end of financial year of my company i have paid back all the money i have taken from company and will pay corp. tax in full amount of all the dividend i have taken.

As corp.tax money wasnt there in my business account after taking dividend, will that dividend money will be accpeted by UKBA for visa extension?

if anyone knows about this please guide and help me.

You can not take dividends unless you have profits (after accounting for corp. tax etc).
Additional amount that you have taken will be director's loan which you have paid back.
You need to talk to your accountant to get this sorted out.

Hi
Thanks for your reply. Yes my accountnat will sort out the loan and all.but just let me know if you know that will my dividend will be accepted or not as i have taken dividend on profit only and will be shown in yearly account summary

Should not be a problem if it is taken from profit and required accounts/paperwork is done properly

[mitulkumar]

Thanks for all your help.

I have got my tier-1 extension

[contactrizwan79]

Thanks for all your help.

I have got my tier-1 extension

Hi MitulKumar,

I am also in the same situation, I was taken some money as a loan and there was less money in my company account for the CT.

I am also having the same quesiton like I was taken some dividend as well in that period so is it affect on my dividend or not.

Could you please tell you application in details like you went in PEO or post and what document you were submitted and dividend and salary structure?

ContactRizwan79