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Ltd Co -Director Do we need to pay NI ? for dividends income

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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bathra10
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Ltd Co -Director Do we need to pay NI ? for dividends income

Post by bathra10 » Sat Oct 13, 2012 11:42 am

Hello People,

Basically I work through my LTD company (Xyz ltd) in the capacity of a director and my earnings comprise of the dividends paid to me by my company and my Net Profit Share entitlement.

Evidence for Dividend earnings that I am showing is
:
1) Dividend vouchers - For each payment made into my bank account
2) Personal Bank Statements. referencing them each payment

Evidence for Net Profit Share Entitlement that I am showing is

1) Statutory Accounts of the Company showing the Net Profit earned after paying the Corporation Tax
2) Letter from my Accountant confirming that
3)Business Bank Account Statements.
4) Invoices Generated

by the Business My question is do we need to show any evidence for National Insurance payment? for NI my understanding, through internet search (http://www.companybug.co.uk/national-insurance/) , is that since " for limited company directors, NICs are only payable on salaries and not on dividends." therefore no evidence would be required

Thanks,

Deep

geriatrix
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Joined: Fri Mar 17, 2006 3:30 pm
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United Kingdom

Post by geriatrix » Sat Oct 13, 2012 11:52 am

Please continue in the existing topic.
Life isn't fair, but you can be!

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