Limited company dividend with out corporation tax

[autotest]

Hi,


I often took money from my business account as dividends as I needed it. So there wasn't much money left in my business account to pay corp.tax while transferring the dividends money. My wife and my self are directors of my limited company.

So if i have taken £7620, £5100, £9600 and £4000 for my self and £5080, £3400, £2400 and £1000 for my wife each month, Corp. tax on it will be around £7640. But in my business account money wasn't there for corp. tax at the time of transferring dividends to our account.

Now, I have got enough money to show my earnings for my visa and got money in business account to pay corp. tax. My due date to pay corporation tax is on Feb 2013 and my visa extension is on Sep 2012

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

Can you please clarify on this?

Thanks in advance,

[gaurav76.5]

Dividends are announced only after corporation tax has been calculated..so I guess there might be a problem...an acciuntant is the best person to speak to about this...

[adityaisukapalli]

That should not be a problem i guess. Most of the IT contractors do the same as you. As long as you pay the CO tax, there should be no problem.

Many of my friends did the same. Anyway, you dont show your BUSINESS BANK STATEMENTS to the HomeOffice.

[autotest]

Thanks guys,

As per my understanding we need to show all the business bank statements of the company which dividends has been transferred along with the personal bank statements.

Can you please clarify on this?

[bestprint]

Hi,
speak to your accountant. He / she will help you in this regard as you may show in your balance sheet that you have some money as ''CASH IN HAND''.

hope it will help.

Hi,


I often took money from my business account as dividends as I needed it. So there wasn't much money left in my business account to pay corp.tax while transferring the dividends money. My wife and my self are directors of my limited company.

So if i have taken £7620, £5100, £9600 and £4000 for my self and £5080, £3400, £2400 and £1000 for my wife each month, Corp. tax on it will be around £7640. But in my business account money wasn't there for corp. tax at the time of transferring dividends to our account.

Now, I have got enough money to show my earnings for my visa and got money in business account to pay corp. tax. My due date to pay corporation tax is on Feb 2013 and my visa extension is on Sep 2012

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

Can you please clarify on this?

Thanks in advance,