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My accountant has just drawn up my self assessment. I pay myself dividends as a sole director of ltd company.
I worked out the dividends by adding up the total amount of dividend payments which came out of my business bank account for the tax year 19/20 (dividends minuted, etc, as well).
However, the accountants figure was higher than the actual dividends taken, and he's stated the following:-
The dividend figure in the 18/19 accounts was £ of which: £ was allocated to your 18/19 self-assessment tax return & £ was allocated to your 19/20 self-assessment tax return.
The dividend figure in the 19/20 accounts we’re currently preparing is £ of which:
£ is allocated to your 19/20 self-assessment tax return &
£ is being allocated to your 20/21 self-assessment tax return when we come to prepare that.
So it’s the £ from the 18/19 accounts and £ from the 19/20 accounts which are making up the £ figure which is on this year’s self-assessment tax return
The figure then goes into the dividends from uk companies section of my self assessment.
My question is why do they seem to be shifting dividend amounts between tax years (or at least thats how it reads to me) is this normal practice ? Is it even correct ?
I seem to remember last year the figure they reported was higher but I didn't really query it. Now this years seems to be higher again so I don't think I'm benefiting and this response seems confusing unless I'm missing something
I worked out the dividends by adding up the total amount of dividend payments which came out of my business bank account for the tax year 19/20 (dividends minuted, etc, as well).
However, the accountants figure was higher than the actual dividends taken, and he's stated the following:-
The dividend figure in the 18/19 accounts was £ of which: £ was allocated to your 18/19 self-assessment tax return & £ was allocated to your 19/20 self-assessment tax return.
The dividend figure in the 19/20 accounts we’re currently preparing is £ of which:
£ is allocated to your 19/20 self-assessment tax return &
£ is being allocated to your 20/21 self-assessment tax return when we come to prepare that.
So it’s the £ from the 18/19 accounts and £ from the 19/20 accounts which are making up the £ figure which is on this year’s self-assessment tax return
The figure then goes into the dividends from uk companies section of my self assessment.
My question is why do they seem to be shifting dividend amounts between tax years (or at least thats how it reads to me) is this normal practice ? Is it even correct ?
I seem to remember last year the figure they reported was higher but I didn't really query it. Now this years seems to be higher again so I don't think I'm benefiting and this response seems confusing unless I'm missing something
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