Dividend payments on self-assessment tax return


I

ITM

Having been away from contracting for awhile (and having zero tax
knowledge) - could someone please remind me how to declare company
dividend payments on a self-assessment tax return?

During the year in question I was paid no salary by my company (a
venture), but I drew a dividend of £28k from my old company (a
contracting vehicle).

When completing boxes 10.15-10.17 of my tax return, do I declare the
£28k in the first box (Dividend/distribution)? If so, how should I
calculate the "tax credit"?

TIA for any help!
 
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D

Doug Ramage

ITM said:
Having been away from contracting for awhile (and having zero tax
knowledge) - could someone please remind me how to declare company
dividend payments on a self-assessment tax return?

During the year in question I was paid no salary by my company (a
venture), but I drew a dividend of £28k from my old company (a
contracting vehicle).

When completing boxes 10.15-10.17 of my tax return, do I declare the
£28k in the first box (Dividend/distribution)? If so, how should I
calculate the "tax credit"?

TIA for any help!
Assuming it was a net dividend of £28k, then you need to "gross" it up for
the 10% tax credit.

The gross amount would be £31,111.00.
 
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I

ITM

Assuming it was a net dividend of £28k, then you need to "gross" it up for
the 10% tax credit.

The gross amount would be £31,111.00.
Many thanks for your help, Doug
 

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