• Dividends are a distribution of profits
• Dividends can only be distributed from retained profits
• Dividends cannot be backdated
• Dividends are not expenses
• Dividends are not salaries or wages
• Dividends are not an allowable deduction which reduces Corporation Tax payable
• Dividends should be approved and recorded by the Director(s)
• A Dividend Confirmation (aka Voucher) is required
Dividends and Corporation Tax
Dividends are not an allowable deduction (as an Expense) in the calculation of Corporation Tax.
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