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Writer's pictureLewis Chapman

Directors Dividends - Are Your Reports HMRC Ready?

Updated: Feb 29

Are your dividends ready for inspection?
Are your reports accurate?

HMRC is investigating and contacting company directors that it suspects have earned dividends without declaring them in their taxable income!


HMRC has targeted companies reporting a profit with depleting reserves, indicating a dividend has been taken. This information is gathered from publicly available company year-end accounts and compared with director's tax returns to see if accurate dividend information has been reported.


HMRC have been writing letters to such company owners, notifying them to declare their dividend income.

Company owners who have received such correspondence from HMRC have been given an ultimatum. They have 30 days to disclose their undeclared dividend information or inform HMRC that they believe they have nothing else to report. Click here to access HMRC's online disclosure facility. If you have received such a letter from HMRC or believe you need help with your director's accounts needs, it's important you act quickly and accurately. Contact us at Short and Sons Accountants if you want to be confident that all your tax matters are ready for HMRC and have been handled correctly.

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