PAYE/Dividend

I’ve just set up my own business and will pay myself limited PAYE and then take dividends. Do I have to state these dividends on the application?

Comments

  • tacpot12
    tacpot12 Posts: 7,830
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    edited 6 July 2021 at 8:55PM
    You do have to declare any dividends you have received, but not any that you have not received. So the question may be more relevant for the following year when the business has been up and running for a while.  

    This link may help further: Supporting finance application - Dividends - The Student Room

    If you are running a limited company, you will need an accountant, who will also be able to advise you on the most tax efficient way to take money out of the company. Just be aware that HMRC are continuing to crack down on disguised employment - if your business is not really a business, you need to be aware of the rules, and pay yourself a realistic salary if you are to avoid a large tax bill. 
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
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