Dla - divs

Julie2011 Registered Posts: 33 ? ? ?
Afternoon All

Need to get some DLA & Divs stuff straight in my head!

I have three directors who had £42057 paid in Divs in tax yr end April 2011.

Their DLA had a Cr balance of £7111 at the end of the Co financial year 30 June.

Could someone confirm whether I clear the directors loan account first then put the balance on the SA Tax return.

Oh dear I have really confused myself! Have I got his completely wrong??

Really appreciate any help to clear this muddle! Or maybe I should just give up for the day!



  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    If their directors loans are credit balances they don't need clearing, the divs - if properly declared are just put on the tax return as they are.
  • Julie2011
    Julie2011 Registered Posts: 33 ? ? ?
    Thank you, I shall do just that. My thinking was.....that some of the money they have rec'd through the 2011 tax year would have been to pay back the directors their original loans and therefore reduce the amount the have recd in dividends and they would then pay less tax as their dividends recieved are reduced...... Have I over thought this?
  • jilt
    jilt Registered Posts: 2,903
    I don't want to butt in but unless the directors are higher rate tax payers they won't pay tax on their dividends. I think you just need a break and a cuppa Julie :biggrin: I know I do!
  • Julie2011
    Julie2011 Registered Posts: 33 ? ? ?
    Sorry they are higher rate tax payers, missed that bit out! Ill hit the wine now and come back Monday!
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