HSK Accountancy Services wrote:bathra10 wrote:Dear Friends,
Sorry its me again, I checked and yes the Tax Credit on Dividend is 10 % up-till income band £34,370 (for 2012 )
But my question when we show earnings via Dividend do we have to show the Gross Dividend as income ?
Or do we have to show the Net Dividend ?
So if my Gross Dividend income is 24,000 and net Dividend income is 20,000 what my Gross Dividend income be counted by UKBA ?
Thanks,
Deep
Gross dividend!
Dear Friends,,
Need your advise desperately , I work full-time as a contractor (as a director) through my LTD company. I am planning to show income via :
Dividends earned - Which will be shown through Dividend Vouchers (clearly showing Gross and Net Dividend)
And the NET profit After Tax .,, which I believe is the income left after paying Corporation TAX ,,,, now here is where the confusion is... Basically Am I correct in thinking that this in the eyes of UKBA it is actually what is retained in the Business after paying tax AND paying myself Dividends ?? which is 30 in my below example.. Am I correct in thinking in this logic
For eg
Earnings after business deductions is 120
Corp tax @ 20 % paid is 20
NET PROFIT AFTER TAX is 100
Net Dividends paid is 70
AND Retained earning is 30
So in the above case my earnings is 107,, comprising of
Gross Dividend income 77 (70 + 7 )
Retained earnings in the business 30
Would appreciate your opinion.
Thanks
Bathra
PS : I don't want to show Salary income ,,, just a preference to show dividends and Net Profit Share
