Hello fellow members,
I'm new here so please forgive me if this is in the wrong place. I am seeking help or guidance with regards to the filing of my company accounts. This is a new company and i've just submitted my 1st annual return and I am now preparing to submit my 1st company accounts, come the 31st march. My question and concern is this...The company is set up as an employer to which is pays me a minimum weekly wage and is going to pay me a lump sum as a dividend at the end of the financial year (april) so how does one go about filling in the company annual return as a micro entity company in respect of creditors (as it will owe me a dividend) or would it be a provision for liability. Please forgive my ignorance as I am new to business and finance, and can't afford to have an accountant do the work for me plus from a personal point of view I would like to learn and understand how it all works. Also, if I may ask a few questions for the knowledgable... Do I need to set up the company on a pay roll system or can I just with draw the weekly wage from a cash machine. When or how often can the company pay its directors a dividend, as I may not be in a position to wait for a full 12 months for the dividend. And finally, what does the company need to do in april with regards to the end of the financial year, nothing? as I have submitted the annual return and I will have submitted the annual accounts come the 31st march. Am I correct in saying that, I as a director, would need to submit a self assessment come april and thats it.
I would very much appreciate it if someone could help me with this matter and point me in the right direction.
Thanks in advance
I'm new here so please forgive me if this is in the wrong place. I am seeking help or guidance with regards to the filing of my company accounts. This is a new company and i've just submitted my 1st annual return and I am now preparing to submit my 1st company accounts, come the 31st march. My question and concern is this...The company is set up as an employer to which is pays me a minimum weekly wage and is going to pay me a lump sum as a dividend at the end of the financial year (april) so how does one go about filling in the company annual return as a micro entity company in respect of creditors (as it will owe me a dividend) or would it be a provision for liability. Please forgive my ignorance as I am new to business and finance, and can't afford to have an accountant do the work for me plus from a personal point of view I would like to learn and understand how it all works. Also, if I may ask a few questions for the knowledgable... Do I need to set up the company on a pay roll system or can I just with draw the weekly wage from a cash machine. When or how often can the company pay its directors a dividend, as I may not be in a position to wait for a full 12 months for the dividend. And finally, what does the company need to do in april with regards to the end of the financial year, nothing? as I have submitted the annual return and I will have submitted the annual accounts come the 31st march. Am I correct in saying that, I as a director, would need to submit a self assessment come april and thats it.
I would very much appreciate it if someone could help me with this matter and point me in the right direction.
Thanks in advance