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Dividend Query

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Tier1_123
Newbie
Posts: 40
Joined: Sun Jun 06, 2010 3:52 pm
Location: UK

Dividend Query

Post by Tier1_123 » Sun Apr 15, 2012 10:36 am

Hi,
I am going to apply for my Tier-1 extension at the end of May 2012. I have got some basic questions and need some expert comments over that.

1. I am going to claim my earning for the period 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June, which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011.

2. Do i need to consider Net Dividend or Gross Dividend for my 12months earning purpose?

P.S: I am operating through my own company as 100% shareholder and Director.

Rgds,

Sushil-ACCA
Diamond Member
Posts: 1234
Joined: Wed Apr 02, 2008 1:47 pm
Location: Wembley Park

Re: Dividend Query

Post by Sushil-ACCA » Sun Apr 15, 2012 10:44 am

Tier1_123 wrote:Hi,
I am going to apply for my Tier-1 extension at the end of May 2012. I have got some basic questions and need some expert comments over that.

1. I am going to claim my earning for the period 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June, which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011.


dividend can bs declared during year called intrim dividend or one shot at year end or after year end as final dividend

u will be ok , so long it is form profits of period u r claiming as yr 12 months

2. Do i need to consider Net Dividend or Gross Dividend for my 12months earning purpose?

if £9000 .00 transferred from company than £10000.00 is income from HO point


P.S: I am operating through my own company as 100% shareholder and Director.

Rgds,
Last edited by Sushil-ACCA on Sun Apr 15, 2012 10:51 am, edited 1 time in total.

Tier1_123
Newbie
Posts: 40
Joined: Sun Jun 06, 2010 3:52 pm
Location: UK

Post by Tier1_123 » Sun Apr 15, 2012 10:48 am

Hi Shushil,
Thanks for the swift reply. Can you please have a look at Query No.1 as well and advise.

Thx.

Tier1_123
Newbie
Posts: 40
Joined: Sun Jun 06, 2010 3:52 pm
Location: UK

Re: Dividend Query

Post by Tier1_123 » Sun Apr 15, 2012 11:37 am

Sushil-ACCA wrote:
Tier1_123 wrote:Hi,
I am going to apply for my Tier-1 extension at the end of May 2012. I have got some basic questions and need some expert comments over that.

1. I am going to claim my earning for the period 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June, which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011.


dividend can bs declared during year called intrim dividend or one shot at year end or after year end as final dividend

u will be ok , so long it is form profits of period u r claiming as yr 12 months

2. Do i need to consider Net Dividend or Gross Dividend for my 12months earning purpose?

if £9000 .00 transferred from company than £10000.00 is income from HO point


P.S: I am operating through my own company as 100% shareholder and Director.

Rgds,
Hi Sushil,
Thanks for the update but i am not able to extract my answer out of it and needs some further elaboration.
My company tax cycle is from August to July. The period i am claiming for extension purpose is 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June (apart from other two dividend amounts drawn later but before 30-04-2012), which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011 but was from the profit for the months March, April & May 2011.
In short the trigger point for the Dividend to be considered as my Income will be when it was transferred to my personal account or it will remain for the period for which it was actually earned.
Rgds,

Sushil-ACCA
Diamond Member
Posts: 1234
Joined: Wed Apr 02, 2008 1:47 pm
Location: Wembley Park

Re: Dividend Query

Post by Sushil-ACCA » Sun Apr 15, 2012 12:00 pm

Tier1_123 wrote:
Sushil-ACCA wrote:
Tier1_123 wrote:Hi,
I am going to apply for my Tier-1 extension at the end of May 2012. I have got some basic questions and need some expert comments over that.

1. I am going to claim my earning for the period 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June, which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011.


dividend can bs declared during year called intrim dividend or one shot at year end or after year end as final dividend

u will be ok , so long it is form profits of period u r claiming as yr 12 months

2. Do i need to consider Net Dividend or Gross Dividend for my 12months earning purpose?

if £9000 .00 transferred from company than £10000.00 is income from HO point


P.S: I am operating through my own company as 100% shareholder and Director.

Rgds,
Hi Sushil,
Thanks for the update but i am not able to extract my answer out of it and needs some further elaboration.
My company tax cycle is from August to July. The period i am claiming for extension purpose is 01-05-2011 till 30-04-2012. I transferred a Dividend amount XYZ in my personal account on 10th of June (apart from other two dividend amounts drawn later but before 30-04-2012), which actually was for the period March, April & May 2011. Can i claim this XYZ amount as part of my earning for the period 01-05-2011 till 30-04-2012, considering it was transferred to my personal account on 10th June 2011 but was from the profit for the months March, April & May 2011.
In short the trigger point for the Dividend to be considered as my Income will be when it was transferred to my personal account or it will remain for the period for which it was actually earned.
Rgds,
ONLY profits of period ;;. The period i am claiming for extension purpose is 01-05-2011 till 30-04-2012;;;

dividend should be claimed , if some one have reserves of previous years and no profits in 12 months claimed from HO he is in trouble

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